San Diego-based debt buyer, Encore Capital Group, posted a net second quarter loss of $0.8 million, compared to net income of $7.5 million in the same period of the prior year. The loss was related to an agreement reached with the Company’s previous lender to pay off all future contingent interest. However, revenues from receivable portfolios were $64.0 million, a 7% increase from 2Q/06. Gross collections were up 18% to $93.6 million. Revenues from bankruptcy servicing were $3.2 million, compared to $6.2 million in the same period of the prior year. ECG says investments in receivable portfolios were $41.1 million to purchase $1.3 billion in face value of debt, compared to $21.3 million to purchase $594 million in face value of debt in the same period of the prior year. For more details on Encore Capital Group’s second quarter performance visit CardData ([www.carddata.com]).