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The Company was formed
in 2004 to target investment capital and acquire, re-habilitate and divest
under-performing debt portfolios.
Our industry arose from the
liquidation of savings and loan institutions from the late 1980's throughout
the early 1990's. Whether participating in government sponsored FDIC or RTC
loan portfolio auctions, or by developing direct relationships with solvent
institutions, the Company and its founder have established its reputation as
leaders in a niche industry. Many privately held and publicly traded providers
have emerged from the industry's growth in a relatively short period of
time.
While the successes of this newly formed industry have followed
the volume-based growth generated by the charge-offs of national consumer
credit card issuers, the Company maintains its focus on acquiring 'fringe'
portfolios offered as sub-prime performing, re-performing and non- performing
charged-off assets.
Sources for accounts though most often from major
money-center banks, are best acquired from regional and/or community banks,
credit unions or providers of goods and services.
Glengarry Capital,
LLC from the experience of its founder has acquired hundreds of loan portfolios
comprised of over $5,000,000,000 in face value.
The focus of the
Company includes boutique loan portfolios backed by security such as, motor
vehicles, mobile homes, boats or real estate. Unsecured obligations include
under-performing and certain charged-off assets generated from consumer lines
of credit, credit card accounts, retail loan agreements and deficiency
balances. |
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