Trends in Debt Buying

Panelists Mike Ginsberg Greg Shelton Lou DiPalma President and CEO of Kaulkin Ginsberg Greg Shelton Director of Emerging Markets with LexisNexis Risk Solution Lou DiPalma Managing Partner of Garnet Capital Advisors

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Today’s Discussion Topics Market Opportunities Financing Alternatives Pricing Trends Impact of New Administration on Debt Buying Outlook & Predictions

Market Opportunities Financial Services Mortgage, HELOC, Auto, CC, Other Consumer Loans, Commercial Credit Unions Similar to financial services Nonbank Consumer Finance Marketplace and Peer-to-Peer Loans Student Loans Private & public bad debt levels Healthcare Hospital bad debt levels Municipalities Fines, Tickets, Taxes

Financial Services Auto loan charge-offs were extracted from Other Consumer Loans beginning in 2011, explaining Other Consumer Loans’ significant decline after 2010.

Credit Unions Auto and all other loan types were not tracked prior to 2013.

Student Loans *Bad debt is debt at least 90 days delinquent, generally the level that creditors become skeptic of recovering debts.

Health Care Source: American Hospital Association

Financing Alternatives Partner Finance Hedge Fund Finance Bank Finance

Historical Credit Card Charge-Off Pricing A = Jan-June (or 1st half) B = June-December (or 2nd half) Source: Garnet Capital market review

Impact of the New Administration on Debt Buying Steven Mnuchin Wilbur Ross Carl Icahn Linda McMahon Peter Navarro Rex W. Tillerson Andrew W. Puzder Ben Carson

Outlook & Predictions

Q&A Mike Ginsberg Greg Shelton Lou DiPalma President and CEO of Kaulkin Ginsberg Greg Shelton Director of Emerging Markets with LexisNexis Risk Solution Lou DiPalma Managing Partner of Garnet Capital Advisors

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