STEVE, ? about previous post

Discussion in 'Credit Talk' started by Momof3, Oct 30, 2000.

  1. Momof3

    Momof3 Well-Known Member

    You mentioned in a previous post about Creditrust being in trouble?? What exactly is the story with them? They are the collection agency that TRIED to get me to pay a bill from 1989, I of course told them where to go and what FCRA rules they were attempting to voilate. Just curious what you know about them?
  2. Pat

    Pat Guest

    Creditrust went BANKRUPT (chap

    The new company, NCO Portfolio Management Inc., plans to buy Baltimore-based Creditrust, which buys delinquent
    consumer debt from lenders and filed for Chapter 11 bankruptcy protection earlier this year after poor stock performance and
    credit problems.

    Under terms of the deal, Creditrust shareholders will get about $17 million to $20 million in NCO Portfolio Management stock,
    subject to certain adjustments that may occur due to the resolution of Creditrust's bankruptcy. The new company plans to
    utilize a bankruptcy exemption that will let it avoid an initial public offering and plans to trade under the proposed ticker
  3. ShyGuy

    ShyGuy Well-Known Member

    RE: Creditrust went BANKRUPT (

    Isn't that sweet -- a collection agency filing for BK and taking advantage of the bankruptcy laws?

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