Last year Encore Capital Group purchased 50.25% (controlling share) of Baycorp.
Encore are a finance company that purchase consumer recievables (debt). Their mission they say is to help people recover from financial difficulty. They are the worlds largest debt buyer of subprimers. They have subsidaries all over the world and Baycorp are one such subsidiary. They have a research department on behavioural sciences and consumer purchasing power. They use credit reporting data in the USA for their research into the numbers of people that file for bankruptcy.
Suddenly I feel like I’m part of a huge experiment.
So delinquent debt actually ends up on the stock market - NASDAQ
One way to know if Encore is getting richer by our debt, is to track their share price.