PPJ Healthcare Enterprises Inc (PPJE)

[madwop26]

Upstate Chris, I worked in the collections industry for 2 years. I was a debt purchaser. On average we bought blocks of debt for 10 cents on the dollar, and our collection rate was close to 28% of portfolio face value. When we needed bank loans our collateral was based on our total portfolio face value, not the actual collection rate. Dont ask me how that works but the banks saw the face value of all of our portfolios as the value of our company. The medical bills were actually some of the easiers ones to collect on for some reason, much better than credit card and auto loans. We were a diversified collection house. We are not even sure if these are default collections or regular billing cycle collections. No one has been able to assertain that as of yet. And you are correct in it taking years to collect on lawsuit rulings, but it still in the eyes of banking istitutions is considered potential income on the books.