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Credit Corp shares smashed as US debt repayments shrink

Liam WalshReporter
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Key Points

  • Credit Corp shares tumble after earnings downgrade. 
  • Debt collector says more US customers are dumping repayment plans. 
  • Says Australian operations are performing to expectations. 

Shares in Australian debt collecting giant Credit Corp have slumped almost a third after the company took a tumble on chasing money owed in the US.

Sydney-based Credit Corp has a sizeable US operation and more Americans were dumping debt repayment plans, the company said on Wednesday.

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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
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    Original URL: https://www.afr.com/companies/financial-services/credit-corp-shares-smashed-as-us-debt-repayments-shrink-20231018-p5ed77