CompuCredit Corp. unit Jefferson Capital sold a $2.9 billion portfolio of charged-off consumer credit card debt to Encore Capital Group, the companies announced. Encore paid $142.8 million for the portfolio, as well as the right to purchase an additional $3.25 billion in face value charged-off credit card receivables from Jefferson over the next five years. Also as part of the transaction, Encore has extended its existing agreement to sell Chapter 13 bankruptcies to Jefferson for an additional two years and agreed to provide Jefferson with a prescribed number of accounts on a monthly basis for its balance transfer program.
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