What We Do
Global Credit Recovery (GCR) is a specialty finance company that purchases portfolios of consumer receivables from major banks, retailers, credit unions, utility providers, and municipalities.
GCR generates revenues primarily through the purchase, collection and sale of performing and non-performing consumer receivables that have typically been charged-off by the credit grantors or not considered to be prime receivables. These receivables include MasterCard, Visa and other credit card accounts issued by banks.
Some Facts About Us
Global Credit Recovery has produced outstanding financial returns for its investors over the last 6 years (20+ % Annually) buying and reselling consumer credit card portfolios. Buying these portfolios at a fraction of their face value for cents on the dollar allows for unique resale and legal based collection opportunities.
Global Credit Recovery’s strong track record, network of high integrity secondary buyers and long-standing relationships with major credit originators provides the company with access to quality opportunities. Forward flow contracts with sellers provide Global Credit Recovery with a predictable supply of consistent quality product. 300+ originators sold over $100 billion of delinquent consumer receivables in 2013.
Global Credit Recovery utilizes forward flow and one off contracts with leading banks and brokers to purchase quarterly.
How We Do It
When considering whether to purchase a portfolio, Global Credit Recovery conducts a quantitative and qualitative analysis to appropriately price the debt. This analysis includes the use of a pricing and collection probability model and draws upon extensive experience in the industry. Global Credit Recovery developed experience across a wide range of asset types at various stages of delinquency, having made purchases across more than 20 different asset types from over 50 different debt sellers since 2000.
Global Credit Recovery specializes in the acquisition of defaulted or charged-off accounts receivable portfolios from consumer credit originators. Charged-off receivables are the unpaid obligations of individuals to credit originators, such as credit card issuers, consumer finance companies, retail merchants, telecommunications and other utility providers. Since these receivables are delinquent or past due, Global Credit Recovery is able to purchase them at a substantial discount.
Global Credit Recovery does not perform collection process for these receivables in-house. Once acquired, the collection of these receivables is outsourced to a network of legal entities with strong expertise in consumer debt or resold.