Charge-Off Clearinghouse Offers $43 Million of Major Bank Credit Cards For Sale

Austin, TX – Charge-Off Clearinghouse announced today that it had acquired $43 Million in charged-off credit cards?all of which it is offering for sale, Company president, Louise Epstein, said.

?This is a nationwide portfolio of credit cards from major banks. The average charge-off date on the accounts is May 2003, and the average balance is $4490. The geographic dispersion, the dates, the card balances and the issuers makes this an attractive portfolio for the national buyer, as well as for regional and state buyers?, Epstein reported.

?The last twelve months have seen a dramatic shortage of value-priced bad debt available for sale, and we are pleased to have snagged this offering?, she added.

Charge-Off Clearinghouse is an Austin, Texas based company that has purchased hundreds of millions of dollars of charged-off consumer accounts since 1997. In contrast to most debt buying companies, Charge-Off Clearinghouse purchases accounts strictly for resale to its ever-growing network of collection agencies and collection law firms. Once registered on the Company website, www.chargeoffclearinghouse.com, interested buyers can review, manipulate, and download sanitized account information, prior to submitting offers. Prospective buyers can also obtain analytical reports on the customized portfolios that they create online.

?Good portfolios are hard to find,?, Epstein commented, ?and this one was worth the wait?. Epstein encourages interested parties to register on the Company website for detailed portfolio information, and to call or email her with any questions.