Encore Capital Group is a market leader in the debt buying industry. They relieve banks, credit unions and loan agencies of their defaulted accounts. A recovery process is then initiated by the company to work at individual level with customers to help them repay their financial obligations. Encore operates through its many subsidiary agencies and is collectively known as ‘the company’.
It is a publicly-traded company and listed with NASDAQ.
Encore Capital Group is a market leader in the debt buying industry. They relieve banks, credit unions and loan agencies of their defaulted accounts. A recovery process is then initiated by the company to work at individual level with customers to help them repay their financial obligations. Encore operates through its many subsidiary agencies and is collectively known as ‘the company’. It is a publicly-traded company and listed with NASDAQ.
Company profile
Encore is headquartered in San Diego, California with its offices situated in the states of Texas, Arizona and Minnesota as well. They are one of the largest networks of third-party debt collectors in the US. The company also runs an offshore unit in Gurgaon, India.
The success of Encore in offering debt solutions lies in its strong analytical platform that helps them analyze data based on demography and available statistics. It is by far the largest publicly-traded debt collection company in the US in terms of revenue earning and manages a database of 33 million active accounts. In 2010 Fiscal Year, the company earned total revenue of $ 381.3 million. Since inception, the company has invested around $1.8 billion in acquiring this large volume of consumer accounts. Their success in the business can be attributed to:
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A team of efficient but well-mannered employees with diverse educational and social background
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Application of scientific method in apprehending, analyzing, managing and forecasting about consumer behavior
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Tailor-made debt repayment solutions to customers
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Data security and data management along with deep respect for consumer privacy and rights
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Strong network of clients with leading American banks, credit unions and loan originators
The company was founded in the year 1953 and its original name was Midland Credit Management, Inc. In 2002, it was renamed as Encore Capital Group, Inc. Apart from NASDAQ, the company is also listed with Russell 2000 and Wilshire 4500.
Nature of business
Encore is a third party debt collection agency. It purchases charged-off accounts of defaulted customers from consumer financing companies, automobile financing companies, commercial retailers, credit originators, banks, financial institutions and credit unions and employ appropriate debt collection methods adhering to FDCPA (The Fair Debt Collection Practices Act). They work on the individual level with their customers to help them set up a convenient debt repayment schedule.
Ascension Capital Group, Inc. is a wholly-owned subsidiary of the company through which it offers bankruptcy services to its clients. They work in close relation with lenders, consumers, and trustees in a bankruptcy process.
In March 2010, the company got featured among the top 10 publicly held companies in San Diego based on its financial performance in Bloomberg Company Strength Index.
Career with Encore
Job opportunities are available with the company and its subsidiaries. They are interested in recruiting the top talents from the industry. They seek candidates with strong determination and entrepreneurial skills with respect for customer rights.
The company offers the following benefits to its employees:
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Medical and dental facilities
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Vision
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Life Insurance
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Long term disability insurance
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Pick and drop and transport facilities
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Flexible Spending Account
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Health Savings Account (HSA)
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Employee assistance program
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401(k) retirement savings plan
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Volunteer and community outreach programs
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Tuition assistance for continuing education
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Leadership and skills training
Their website allows interested candidates to search for appropriate job openings with the organization at their desired locations.
Last Updated: 12/09/11
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