#CreditAcceptance

It was halfway down an email that was anonymously forwarded to me a few weeks ago, buried between torpid paragraphs grown thick and encrusted with the deliberately Byzantine language of Wall Street analysis. And it said something like this:

In Detroit, Michigan thus far in 2017, nearly one in eight of all available civil lawsuits filed in the city involve (this firm) suing borrowers. Overall, 72% of these lawsuits resulted in the company garnishing the wages or tax refunds of borrowers. In essence, the company is a new kind of hybrid: a debt collector that originates its own loans — a combination that has proved extraordinarily profitable for investors as the business of lending to troubled borrowers has surged since the financial crisis.

A debt collector that originates its own loans, generating more than 10 percent of all civil lawsuits in Detroit. Something wicked this way comes.