Asset Acceptance Capital Corp., a large publicly traded purchaser and collector of charged-off consumer debt, today reported results for the quarter ended June 30, 2012. During the second quarter of 2012, the Company invested $58.9 million to purchase charged-off consumer debt portfolios with a face value of $1,985.5 million.
This quarter marks the Company’s highest purchasing quarter in four years! As the earnings reports from the other publicly traded debt buyers come out in the coming weeks I’m sure we will see similar scenarios because these companies recognize that the pricing is right and as the economy begins to improve over the coming years their profits will soar!
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