Credit Corp in halt after scathing Checkmate Research report

Credit Corp in halt after scathing Checkmate Research report

Your debt buying business put its stocks in a trading halt on Thursday, citing an „anonymous report“ on the stock. Credit Corp told the ASX it expects to help make an statement to your trade in reaction into the report.

Street Talk knows the report being described by Credit Corp is written by Checkmate analysis and it is en titled Credit Corp: A wolf in sheep’s clothes.

Credit Corp in a trading halt. Bloomberg

Credit Corp, which includes an industry capitalisation of nearly $900 million and operates in buying and collecting financial obligation and also offers a financing company, declined to comment when contacted by this column.

The Checkmate report claims loans Credit Corp is really a payday lender and claims its Wallet Wizard business depends on a „loophole in legislation“ in order to avoid being categorized being a payday lender.

„In our viewpoint Westpac will probably pull money from CCP that will face the necessity to either quit its payday lending company or even to urgently look for alternative money. (mehr …)

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