Business Summary
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Asset Acceptance Capital Corp. is engaged in the purchase and collection of defaulted and 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, healthcare providers, retail merchants, telecommunications and other utility providers. From January 1, 2000, through December 31, 2009, it had purchased 1,090 consumer debt portfolios. In addition, the Company finances the sales of consumer product retailers through its Consumer Credit, LLC subsidiary.
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