Encore Capital Group, Inc. Statement
Statement to 10News from Brandon Black, CEO of Encore Capital Group, Inc.Kristin,Thanks for the questions. Most, if not all of them can be answered by reading through our public filings. Our stock symbol is ECPG. In those filings, we disclose the organization structure, our legal volumes and the profitability for the company.Encore owns more than 18 million accounts, with outstanding balances approaching $35 billion. Each year, we make over 100 million phone calls.Unfortunately, I cannot disclose how our account managers are paid.I do hope that your research will go beyond the number of notices that have been processed through the Better Business Bureau. There are over 300 San Diego residents that work here and are proud of what they have accomplished. In fact, our company was recognized by the Better Business Bureau a few years ago when we were awarded the Marketplace Award for Ethics. We have routinely had a senior executive on their Board of Directors and an excellent, open working relationship.I would also encourage you to examine the investigative techniques used by the media before you decide to publish a story about my industry. For example, this morning Mr. Blacher camped outside our office stopping people as they came in to work hoping to get some kind of sensational quote. In addition, he repeatedly questioned the receptionist for the company while putting a camera in her face. I’m pretty sure that we would end up on television had we violated the privacy of one of our consumers in the way he treated our workforce.In closing, I would like to reiterate my point around the security at our facility. The bottom floor of our building is the cash depository for one of the 3 largest financial institutions in the country. Armored trucks come in and out on a regular basis. They may want to clear your use of their security cameras, gates, etc. prior to it airing.If I can be of any more help, please don’t hesitate to contact me.Best regards,
Brandon
Sent: Friday, May 01, 2009 3:28 PM
To: Black, Brandon
Subject: 10News Questions for Midland Credit Management
Dear Brandon,Thank you for speaking with me this afternoon. Per your request during our conversation, please find questions below regarding Midland Credit Management:Please clarify Midland Credit Management is a subsidiary of Encore Capital Group.Does Encore Capital Group have other subsidiaries? If so, which companies are they?How many consumers does Midland Credit Management contact each year regarding payment of debt collection?How many consumers do you sue each year over bad debt?How much do you spend on legal fees and court cases each year?How many cases do you settle each year?How much profit do you make from collecting debts?Are your employees paid by commission? Explain yes or no. If yes, what percentage is the commission?
Brandon
|
|
E-Mail From I-Team
From: Castillo, KristenSent: Friday, May 01, 2009 3:28 PM
To: Black, Brandon
Subject: 10News Questions for Midland Credit Management
Dear Brandon,Thank you for speaking with me this afternoon. Per your request during our conversation, please find questions below regarding Midland Credit Management:Please clarify Midland Credit Management is a subsidiary of Encore Capital Group.Does Encore Capital Group have other subsidiaries? If so, which companies are they?How many consumers does Midland Credit Management contact each year regarding payment of debt collection?How many consumers do you sue each year over bad debt?How much do you spend on legal fees and court cases each year?How many cases do you settle each year?How much profit do you make from collecting debts?Are your employees paid by commission? Explain yes or no. If yes, what percentage is the commission?
