Collection practices are coming under intensifying scrutiny from prosecutors, but recoveries against previously charged-off credit card accounts continue to flood in.
The 18 issuers considered here salvaged $1.6 billion of debt in the second quarter that had previously been declared uncollectible. The take comes after more than two years of declining gross chargeoffs, which are the source of the pool of claims from which recoveries can be made. (Select lenders from the dropdown in the graphic below to see data for individual companies, or select “Aggregate” to see data for the group together. Text continues after the graphic.)