EXHIBIT 10.1

AMENDMENT NO. 6

Dated as of December 27, 2007

to

CREDIT AGREEMENT

Dated as of June 7, 2005

THIS AMENDMENT NO. 6 (“Amendment”) is made as of December 27, 2007 by and among
Encore Capital Group, Inc. (the “Borrower”), the financial institutions listed
on the signature pages hereof (the “Lenders”) and JPMorgan Chase Bank, National
Association, as Administrative Agent (the “Agent”), under that certain Credit
Agreement dated as of June 7, 2005 by and among the Borrower, the Lenders and
the Agent (as amended, supplemented or otherwise modified from time to time, the
“Credit Agreement”). Capitalized terms used herein and not otherwise defined
herein shall have the respective meanings given to them in the Credit Agreement.

WHEREAS, the Borrower has requested that the Lenders and the Agent agree to
certain amendments to the Credit Agreement;

WHEREAS, the Lenders party hereto and the Agent have agreed to such amendments
on the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the premises set forth above, the terms and
conditions contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Borrower, the
Lenders party hereto and the Agent have agreed to enter into this Amendment.

1. Amendments to Credit Agreement. Effective as of the date of satisfaction of
the conditions precedent set forth in Section 2 below, the Credit Agreement is
amended as follows:

(a) The proviso appearing in the first sentence of Section 2.5.3(i) of the
Credit Agreement is amended and restated in its entirety as follows:

provided that (A) the Aggregate Revolving Loan Commitment shall at no time
exceed $300,000,000 minus the aggregate amount of all reductions in the
Aggregate Revolving Loan Commitment previously made pursuant to Section 2.5.2;
(B) such request shall be in an amount not less than $5,000,000; and (C) the
aggregate amount of such increase shall not exceed $70,000,000.

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(b) The Revolving Loan Commitments of certain of the Lenders are amended and
increased and therefore, upon the effectiveness hereof, the Revolving Loan
Commitments of all of the Lenders are amended as set forth in the schedule on
Annex I hereto. The Borrower hereby agrees to compensate each Lender for any and
all losses, expenses and liabilities incurred by such Lender in connection with
the sale and assignment of any Eurodollar Loans and the reallocation described
in Section 2(a) below, in each case on the terms and in the manner set forth in
Section 3.4 of the Credit Agreement.

2. Conditions of Effectiveness. The effectiveness of this Amendment is subject
to the conditions precedent that (a) in connection with the assignments and
increases described in Section 1(j) above, the Agent and the Lenders shall have
administered the reallocation of the Aggregate Outstanding Revolving Credit
Exposure among the Lenders such that after giving effect to the reallocations of
the Revolving Loan Commitments, each Lender’s Revolving Loan Pro Rata Share of
the Aggregate Outstanding Revolving Credit Exposure is equal to such Lender’s
Revolving Loan Pro Rata Share of the Aggregate Revolving Loan Commitments,
(b) the Agent shall have received (i) counterparts of this Amendment duly
executed by the Borrower, the Lenders and the Agent and the Consent and
Reaffirmation attached hereto duly executed by the Guarantors, (ii) such other
opinions, instruments and documents as are reasonably requested by the Agent,
(iii) for the ratable account of each Lender with a Revolving Loan Commitment
being increased, an upfront fee in an amount equal to 0.10% of such Lender’s
incremental portion of its increased Revolving Loan Commitment and (c) the
Borrower shall have paid, to the extent invoiced, all expenses of the Agent
(including attorneys’ fees and expenses) in connection with this Amendment and
the other Loan Documents.

3. Representations and Warranties of the Borrower. The Borrower hereby
represents and warrants as follows:

(a) This Amendment and the Credit Agreement as amended hereby constitute legal,
valid and binding obligations of the Borrower and are enforceable against the
Borrower in accordance with their terms.

(b) As of the date hereof and giving effect to the terms of this Amendment,
(i) there exists no Default or Unmatured Default and (ii) the representations
and warranties contained in Article V of the Credit Agreement, as amended
hereby, are true and correct, except for representations and warranties made
with reference solely to an earlier date.

4. Reference to and Effect on the Credit Agreement.

(a) Upon the effectiveness hereof, each reference to the Credit Agreement in the
Credit Agreement or any other Loan Document shall mean and be a reference to the
Credit Agreement as amended hereby.

(b) Except as specifically amended above, the Credit Agreement and all other
documents, instruments and agreements executed and/or delivered in connection
therewith shall remain in full force and effect and are hereby ratified and
confirmed.

(c) The execution, delivery and effectiveness of this Amendment shall not
operate as a waiver of any right, power or remedy of the Agent or the Lenders,
nor constitute a waiver of any provision of the Credit Agreement or any other
documents, instruments and agreements executed and/or delivered in connection
therewith.

 

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5. Governing Law. This Amendment shall be governed by and construed in
accordance with the internal laws of the State of New York, but giving effect to
federal laws applicable to national banks.

6. Headings. Section headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.

7. Counterparts. This Amendment may be executed by one or more of the parties
hereto on any number of separate counterparts, and all of said counterparts
taken together shall be deemed to constitute one and the same instrument.

[Signature Pages Follow]

 

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IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year
first above written.

 

ENCORE CAPITAL GROUP, INC., as the Borrower By:   /s/ J. Brandon Black Name:  
J. Brandon Black Title:   President & CEO

 

Signature Page to Amendment No. 6

Encore Capital Group, Inc.

Credit Agreement dated as of June 7, 2005

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JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Administrative Agent, as LC Issuer
and as a Lender By:   /s/ Steven J. Krakoski Name:   Steven J. Krakoski Title:  
Senior Vice President

 

Signature Page to Amendment No. 6

Encore Capital Group, Inc.

Credit Agreement dated as of June 7, 2005

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BANK OF SCOTLAND plc, as a Lender By:   /s/ Karen Weich Name:   Karen Weich
Title:   Vice President

 

Signature Page to Amendment No. 6

Encore Capital Group, Inc.

Credit Agreement dated as of June 7, 2005

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BANK OF AMERICA, N.A., as a Lender By:   /s/ Gordon Wiens Name:   Gordon Wiens
Title:   Senior Vice President

 

Signature Page to Amendment No. 6

Encore Capital Group, Inc.

Credit Agreement dated as of June 7, 2005

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CALIFORNIA BANK & TRUST, as a Lender By:   /s/ Michael Powell Name:   Michael
Powell Title:   Senior Vice President

 

Signature Page to Amendment No. 6

Encore Capital Group, Inc.

Credit Agreement dated as of June 7, 2005

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GUARANTY BANK, as a Lender By:   /s/ Jeremy Jackson Name:   Jeremy Jackson
Title:   Vice President

 

Signature Page to Amendment No. 6

Encore Capital Group, Inc.

Credit Agreement dated as of June 7, 2005

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FIRST BANK, as a Lender By:   /s/ Gilmore Hector Name:   Gilmore Hector Title:  
Vice President

 

Signature Page to Amendment No. 6

Encore Capital Group, Inc.

Credit Agreement dated as of June 7, 2005

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CITIBANK, N.A., as a Lender By:   /s/ Doug Bontemps Name:   Doug Bontemps Title:
  Vice President

 

Signature Page to Amendment No. 6

Encore Capital Group, Inc.

Credit Agreement dated as of June 7, 2005

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BANK LEUMI USA, as a Lender By:   /s/ Stephen Serber Name:   Stephen Serber
Title:   Vice President

 

Signature Page to Amendment No. 6

Encore Capital Group, Inc.

Credit Agreement dated as of June 7, 2005

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MANUFACTURERS BANK, as a Lender By:   /s/ Maureen Kelly Name:   Maureen Kelly
Title:   Vice President

 

Signature Page to Amendment No. 6

Encore Capital Group, Inc.

Credit Agreement dated as of June 7, 2005

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CONSENT AND REAFFIRMATION

Each of the undersigned hereby acknowledges receipt of a copy of the foregoing
Amendment No. 6 to the Credit Agreement dated as of June 7, 2005 (as the same
may be amended, restated, supplemented or otherwise modified from time to time,
the “Credit Agreement”) by and among Encore Capital Group, Inc. (the
“Borrower”), the financial institutions from time to time party thereto (the
“Lenders”) and JPMorgan Chase Bank, National Association, in its individual
capacity as a Lender and in its capacity as contractual representative (the
“Agent”), which Amendment No. 6 is dated as of December 27, 2007 (the
“Amendment”). Capitalized terms used in this Consent and Reaffirmation and not
defined herein shall have the meanings given to them in the Credit Agreement.
Without in any way establishing a course of dealing by the Agent or any Lender,
each of the undersigned consents to the Amendment and reaffirms the terms and
conditions of the Guaranty Agreement, the Pledge and Security Agreement and any
other Loan Document executed by it and acknowledges and agrees that such
agreement and each and every such Loan Document executed by the undersigned in
connection with the Credit Agreement remains in full force and effect and is
hereby reaffirmed, ratified and confirmed. All references to the Credit
Agreement contained in the above-referenced documents shall be a reference to
the Credit Agreement as so modified by the Amendment and as the same may from
time to time hereafter be amended, modified or restated.

Dated: December 27, 2007

[Signature Page Follows]

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MIDLAND CREDIT MANAGEMENT, INC. , as a Guarantor     MIDLAND FUNDING NCC-2
CORPORATION, as a Guarantor By:   /s/ J. Brandon Black     By:   /s/ J. Brandon
Black Name:   J. Brandon Black     Name:   J. Brandon Black Title:   President &
CEO     Title:   President ASCENSION CAPITAL GROUP, INC., as a Guarantor    
MIDLAND PORTFOLIO SERVICES, INC., as a Guarantor By:   /s/ J. Brandon Black    
By:   /s/ J. Brandon Black Name:   J. Brandon Black     Name:   J. Brandon Black
Title:   Vice President     Title:   President MIDLAND INTERNATIONAL LLC, as a
Guarantor     MIDLAND FUNDING LLC, as a Guarantor By:   MIDLAND CREDIT
MANAGEMENT, INC., its Sole Member     By:   /s/ J. Brandon Black       Name:  
J. Brandon Black       Title:   President By:   /s/ J. Brandon Black       Name:
  J. Brandon Black       Title:   President & CEO      

MRC RECEIVABLES CORPORATION, as a Guarantor

      By:   /s/ J. Brandon Black       Name:   J. Brandon Black      

Title:

  President      

 

Signature Page to Consent and Reaffirmation to Amendment No. 6

Encore Capital Group, Inc.

Credit Agreement dated as of June 7, 2005

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ANNEX I

Revolving Loan Commitments

 

Lender

   Amount of Revolving
Loan Commitment    % of Aggregate Revolving
Loan Commitment  

JPMorgan Chase Bank, National Association

   $ 47,500,000    20.6521739130 %

Bank of America, N.A.

   $ 42,500,000    18.4782608696 %

Bank of Scotland plc

   $ 35,000,000    15.2173913043 %

California Bank & Trust

   $ 30,000,000    13.0434782609 %

Guaranty Bank

   $ 20,000,000    8.6956521739 %

First Bank

   $ 20,000,000    8.6956521739 %

Citibank, N.A.

   $ 15,000,000    6.5217391304 %

Bank Leumi USA

   $ 12,500,000    5.4347826087 %

Manufacturers Bank

   $ 7,500,000    3.2608695652 %

TOTAL

   $ 230,000,000    100 %