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 report that is”anonymous on the stock. Credit Corp told the ASX it expects in order to make an statement towards the 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 en titled Credit Corp: A wolf in sheep’s clothes.

Credit Corp in a trading halt. Bloomberg

Credit Corp, that has a market capitalisation of very nearly $900 million and operates in buying and debt that is collecting also offers a financing company, declined to comment whenever contacted by this line.

The Checkmate report claims Credit Corp is really a payday lender and claims its Wallet Wizard company depends on a “loophole in legislation” to prevent being classified as 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 urgently look for alternate money. Both situations is highly negative for CCP’s share cost,” the report stated.

“In our viewpoint Wallet Wizard can be breaking lending that is responsible by issuing loans to those who are perhaps perhaps not suitable.”

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