The guy in charge of credit and collections appears competent:Mr. David J. Dubois is Senior Vice President-Credit and Collections of Conn's inc., since August 2013. He has over 20 years of experience in credit underwriting, collections, strategy development, analytics and compliance. From 2007 through 2013, Mr. Dubois served as a Senior Vice President of Operations of Collections with iQor, Inc. responsible for its financial services group. Prior to that, Mr. Dubois held several positions with CitiFinancial Auto, including as Assistant Vice President of Collections responsible for managing its sub-prime delinquency portfolio.Its not unreasonable to expect them to up the credit underwriting standards, and I am sure this will be a top priority.
Over $570M has been wiped from the MC, that's probably more than they have outstanding on the loan portfolio.
I get that some customers will default on loans, and previous postings have alluded to customers FICO scores being lowered a few point as a result, is it not a few point on the FICO score, its a delinquent account which severly impacts your ability to ever get credit anywhere other than a pawn shop, therefore, I see this slowly increasing over the next 4-6 months, as the loan portfolio improves and tax refund season is around the corner, whereby customers pay down the balance to buy new items in the new year.You have to remember, that not everyone has access to credit from places like Target, Walmart, Best-Buy, Sears, they all want FICO scores of +720. Oh, and I notice that a board member has just bought another 10K shares, does he know something we don't?
Over $570M has been wiped from the MC, that's probably more than they have outstanding on the loan portfolio.
I get that some customers will default on loans, and previous postings have alluded to customers FICO scores being lowered a few point as a result, is it not a few point on the FICO score, its a delinquent account which severly impacts your ability to ever get credit anywhere other than a pawn shop, therefore, I see this slowly increasing over the next 4-6 months, as the loan portfolio improves and tax refund season is around the corner, whereby customers pay down the balance to buy new items in the new year.You have to remember, that not everyone has access to credit from places like Target, Walmart, Best-Buy, Sears, they all want FICO scores of +720. Oh, and I notice that a board member has just bought another 10K shares, does he know something we don't?