Re: Contact information for Jefferson Capital Systems

Posted by Paul (216.127.82.98) on August 02, 2004 at 23:20:49:

In Reply to: Contact information for Jefferson Capital Systems posted by Drew on August 02, 2004 at 10:36:21:

Jefferson Capital is another 2 pennies on the dollar debt buying collection agency which is a subsidiary of Compucredit.

"Also, because acquisition prices for previously charged off credit card receivables range from less than a penny to just a few pennies to the dollar of face amount of the receivables, we exclude from the period-end and average managed receivables data the face amount of the previously charged off credit card receivables that our subsidiary, Jefferson Capital, acquires. The recovery income from Jefferson Capital's recovery operations (like that of our excluded late-delinquency-stage receivables at acquisition) has been included within the numerator of the other income ratio computation."

It is also related to the penny debt scavenging Hanna family

"During 2001, we began subleasing 7,316 square feet of excess office space to Frank J. Hanna, Jr., for $21.50 per square foot. Frank J. Hanna, Jr. is the father of our Chairman and Chief Executive Officer, David G. Hanna, and one of our directors, Frank J. Hanna, III. The sublease rate is the same as the rate that we pay on the prime lease. Total rent for the three months ended March 31, 2004 for the sublease was approximately $0.1 million. Additionally, entities owned by Frank J. Hanna, Jr. provide certain collection services to us and rent to us a plane for business usage at market rates for which we paid approximately $0.2 million and $0.2 million, respectively, during the three months ended March 31, 2004."

• Jefferson Capital

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