Document:

<PAGE>

January 23, 2001

NCO Group, Inc.
515 Pennsylvania Avenue
Fort Washington, PA  19034
Attn: Michael J. Barrist,
      President and Chief Executive Officer

      Re: Fourth Amendment to Fifth Amended and Restated Credit Agreement
          ---------------------------------------------------------------

Dear Michael:

         Reference is made to that certain Fifth Amended and Restated Credit
Agreement dated as of December 31, 1999, as amended pursuant to that certain
First Amendment to the Fifth Amended and Restated Credit Agreement dated as of
March 24, 2000, as further amended pursuant to that certain Second Amendment and
Waiver to Fifth Amended and Restated Credit Agreement, dated as of October 26,
2000, and as further amended pursuant to that certain Third Amendment to Credit
Agreement and Commitment for Subfacility Amendment to Credit Agreement, dated
December 15, 2000, by and among NCO Group, Inc., Mellon Bank, N.A., as
Administrative Agent, and the Lenders referred to therein (as so amended, the
"Credit Agreement").

         The definition of Maturity Date in Section 10.1 of the Credit Agreement
is hereby amended and restated in its entirety to read as follows:

                  "Maturity Date" shall mean May 20, 2004.

         In all other respects the Credit Agreement is hereby ratified and
confirmed. If you are in agreement with the foregoing, please execute the
enclosed copy of this letter. The foregoing amendment will become effective upon
delivery to the Administrative Agent of executed counterparts to this letter by
you, the Guarantors (as defined in the Credit Agreement) and each of the Lenders
listed below.

                                    Very truly yours,

ADMINISTRATIVE AGENT:               MELLON BANK, N.A.,
                                    as Administrative Agent and a Lender

                                    By:_________________________________________
                                         Liam M. Brickley
                                         Vice President
<PAGE>

         Fourth Amendment to Fifth Amended and Restated Credit Agreement

LENDERS:                                      PNC BANK, NATIONAL ASSOCIATION

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              BANK OF AMERICA

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              FIRST UNION NATIONAL BANK

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              SUNTRUST BANK, ATLANTA

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              By: ______________________________
                                                    Name:
                                                    Title:

                                              UNION BANK OF CALIFORNIA, N.A.

                                              By:_______________________________
                                                    Name:
                                                    Title:

<PAGE>

         Fourth Amendment to Fifth Amended and Restated Credit Agreement

                                              NATIONAL CITY BANK OF PENNSYLVANIA

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              SUMMIT BANK

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              PROVIDENT BANK OF MARYLAND

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              MANUFACTURERS AND TRADERS
                                              TRUST COMPANY

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              FLEET NATIONAL BANK

                                              By:_______________________________
                                                    Name:
                                                    Title:
<PAGE>

         Fourth Amendment to Fifth Amended and Restated Credit Agreement

                                              CITIZENS BANK OF MASSACHUSETTS

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              CHEVY CHASE BANK, F.S.B.

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              FIRSTAR BANK, N.A.

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              IBM CREDIT CORPORATION

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              BANK AUSTRIA CREDITANSTALDT
                                              CORPORATE FINANCE, INC.

                                              By:_______________________________
                                                    Name:
                                                    Title:

                                              By:_______________________________
                                                    Name:
                                                    Title:
<PAGE>

         Fourth Amendment to Fifth Amended and Restated Credit Agreement

ACCEPTED AND AGREED TO
THIS ________DAY OF _______________, 200__

NCO GROUP, INC.

By:________________________________________
      Michael J. Barrist,
      President and Chief Executive Officer

Each of the undersigned Guarantors confirms and agrees that the Guaranty
executed and delivered by it remains in full force and effect.

NCO BENEFIT SYSTEMS, INC.
NCO HOLDINGS, INC.
NCO FINANCIAL SYSTEMS INC.
NCO TELESERVICES, INC.
NCO FUNDING, INC.
FCA FUNDING, INC.
ASSETCARE, INC.
JDR HOLDINGS, INC.
JDR RECOVERY CORPORATION
INTERNATIONAL ACCOUNT SYSTEMS, INC.
COMPASS INTERNATIONAL SERVICES CORPORATION
DELIVERY VERIFICATION SERVICE, INC.
COMPASS TELESERVICES, INC.

By____________________________________________________
      Michael J. Barrist,
      as President and Chief Executive Officer of each

FINANCIAL COLLECTION AGENCIES, INC.
FCA LEASING, INC.

By:___________________________________________________
      Steven L. Winokur,
      as Treasurer of each<PAGE>

                               FIFTH AMENDMENT TO
                   FIFTH AMENDED AND RESTATED CREDIT AGREEMENT
                            AND OTHER LOAN DOCUMENTS

         THIS FIFTH AMENDMENT, dated as of February 20, 2001, (this "Amendment")
to FIFTH AMENDED AND RESTATED CREDIT AGREEMENT, dated as of December 31, 1999,
as amended pursuant to that certain First Amendment to the Fifth Amended and
Restated Credit Agreement, dated as of March 24, 2000, as further amended
pursuant to that certain Second Amendment and Waiver to Fifth Amended and
Restated Credit Agreement, dated as of October 26, 2000, as further amended
pursuant to that certain Third Amendment to Fifth Amended and Restated Credit
Agreement and Commitment for Subfacility Amendment to Fifth Amended and Restated
Credit Agreement, dated as of December 15, 2000, and as further amended pursuant
to that certain Fourth Amendment to Fifth Amended and Restated Credit Agreement,
dated as of January 23, 2001 (as so amended, the "Current Credit Agreement",
and, as the same may be further amended, from time to time, the "Credit
Agreement") by and between NCO GROUP, INC., a Pennsylvania corporation, CERTAIN
SUBSIDIARIES OF NCO GROUP, INC., THE LENDERS LISTED ON THE SIGNATURE PAGES
HERETO, MELLON BANK, N.A., a national banking association for itself and as
Administrative Agent and Collateral Agent for the other Lenders. Capitalized
terms used in this Amendment are used as defined in the Credit Agreement unless
otherwise defined herein.

         WHEREAS, the Borrower has notified the Lenders of its desire to obtain
a controlling interest in Creditrust Corporation ("Creditrust") through a merger
of Creditrust with and into NCO Portfolio Management, Inc. (f/k/a NCO Portfolio
Funding, Inc.), an Excluded Subsidiary (the "Merger"). Upon consummation of the
Merger, the Borrower shall not have invested more than Twenty Five Million
Dollars ($25,000,000) in Post-Merger NCOP (as defined below);

         WHEREAS, in connection with the Merger, the Borrower would like to
extend credit in an amount not to exceed Fifty Million Dollars ($50,000,000) to
Post-Merger NCOP;

         WHEREAS, the Borrower has requested that the Lenders provide for a
subfacility under the existing $350,000,000 Revolving Credit Facility provided
for in the Credit Agreement to facilitate such financing of Post-Merger NCOP;
and

         WHEREAS, the Lenders are willing to provide for the amendments
requested by the Borrower on the terms and conditions set forth below;

         NOW, THEREFORE, in consideration of the premises and of the mutual
covenants herein contained and intending to be legally bound hereby, the
Borrower and the Lenders agree as follows:

<PAGE>

         1.  AMENDMENTS TO CREDIT AGREEMENT. The Current Credit Agreement is
hereby amended as follows:

             a.  Subfacility. Section 1.2 of the Current Credit Agreement is
amended in its entirety to read as follows:

                 "1.2   Subfacility. Upon the terms and subject to the
                        conditions of this Agreement, (including all conditions
                        precedent in Section 3.2 (Conditions to All Loans) and
                        the limitation on use of proceeds set forth in Section
                        5.9 (Use of Proceeds) below), each Lender agrees to
                        make, from time to time, from the Amendment Effective
                        Date to, but excluding the Subfacility Maturity Date,
                        one or more revolving credit loans ("Subfacility Loans")
                        to the Borrower in an aggregate unpaid principal amount
                        not exceeding any time such Lender's Subfacility
                        Commitment at such time; provided, however, that the
                        Borrower shall not request, and the Lenders shall have
                        no obligation to make, any Subfacility Loans at any time
                        in excess of the Available Subfacility Commitment or at
                        any time that there shall have occurred and be
                        continuing any "Default" or "Event of Default" as each
                        such term is defined in the NCOP/NCOG Credit Agreement.
                        The total amount of the Subfacility Commitment of all
                        Lenders on the Amendment Effective Date is $50,000,000."

             b.  Proceeds of Subfacility Loans. Section 5.9 of the Current
Credit Agreement (Use of Proceeds) is amended by adding the following proviso at
the end of the first sentence thereof:

                 "provided, however, that the Borrower shall apply the proceeds
                 of the Subfacility Loans hereunder only to make loans to
                 Post-Merger NCOP pursuant to the NCOP/NCOG Credit Agreement."

             c.  Manner of Borrowing. Paragraph (a) of Section 1.3 of the
Current Credit Agreement (Notice of Borrowing) is amended by replacing the words
"RC Loans" with the word "Loans" at the end of the first sentence thereof and by
replacing the parenthetical at the end of the second sentence thereof with the
following parenthetical:

                 "(except that the amount of a requested RC Loan may be less if
                 the amount requested is equal to the total Available RC
                 Commitment and except that the amount of a requested
                 Subfacility Loan may be less if the amount requested is equal
                 to the total Available Subfacility Commitment)".

             d.  Disbursements of Funds to Borrower. Paragraph (d) of Section
1.3 of the Credit Agreement (Disbursements of Funds to Borrower) is amended by
adding the following phrase at the end thereof immediately preceding the period:

                                      -2-
<PAGE>

                 "except that the proceeds of any Subfacility Loans shall be
                 made available to the Borrower only by crediting the
                 Disbursement Account".

             e.  Repayments of Loans. Section 1.4 of the Current Credit
Agreement (Repayments) is amended by inserting the phrase "(a) Repayments of RC
Loans" at the beginning thereof immediately preceding the first sentence of said
Section 1.4 and by adding the following paragraph at the end of said Section:

                 "(b)   Repayments of Subfacility Loans. The aggregate
                        outstanding principal amount of the Subfacility Loans
                        shall mature and become due and payable, and shall be
                        repaid by Borrower, on the Subfacility Maturity Date.
                        Borrower shall also repay the following amounts, at the
                        times specified, in respect of the Subfacility Loans:

                        (i)   At any time that the amount of outstanding
                              Subfacility Loans exceeds the amount of the
                              Subfacility Commitment, Borrower shall make a
                              principal payment in respect of the Subfacility
                              Loans in an amount equal to the amount of such
                              excess.

                        (ii)  At any time that Borrower receives a principal
                              payment on the NCOP/NCOG Note, (exclusive of
                              payments in respect of borrowings under the swing
                              line provided for in the NCOP/NCOG Credit
                              Agreement), it shall make a principal payment in
                              respect of the Subfacility Loans in an amount
                              equal to the amount of the principal payment
                              received under the NCOP/NCOG Note; provided,
                              however, that if the making of such principal
                              payment would cause the Borrower to incur any
                              obligation under Section 2.4 (Breakage) herein, so
                              long as no Default or Event of Default has
                              occurred and is continuing, the Borrower shall be
                              entitled to retain such amount until such time as
                              the making of such principal payment would not
                              cause the Borrower to incur such obligation but
                              not later than the Maturity Date. Borrower shall
                              provide notice to the Administrative Agent of any
                              such repayment under the NCOP/NCOG Note."

             f.  Optional Prepayments. Paragraph (a) of Section 1.5 of the
Current Credit Agreement (Optional Prepayments) is amended by replacing the
second parenthetical phrase therein with the following:

                 "(other than a prepayment of all outstanding RC Loans or a
                 prepayment of all outstanding Subfacility Loans)".

                                      -3-
<PAGE>

             g.  Application and Timing of Prepayments. Paragraph (b) of Section
1.5 of the Current Credit Agreement (Application and Timing of Prepayments) is
amended by replacing the words "RC Loan" in the second sentence thereof with the
word "Loan". In addition, clause (ii) of paragraph (b) is amended and restated
in its entirety and two new clauses, designated as (iii) and (iv) are added as
follows:

                        "(ii) Timing and Application of Voluntary Prepayments of
                              RC Loans. Any voluntary prepayments of RC Loans
                              pursuant to paragraph (a) of this Section 1.5
                              shall be applied in the following order unless
                              otherwise directed by the Borrower:

                              (1)  First, prepayments shall be applied against
                                   any interest, breakage and other fees,
                                   charges and expenses due and payable in
                                   respect of the RC Loans and RC Commitment.

                              (2)  Second, prepayments shall be applied against
                                   the RC Loans but with no corresponding
                                   reduction in the amount of the Commitment
                                   unless otherwise specified by Borrower in
                                   accordance with Section 1.7 hereof.

                        Any excess shall be applied to any other amounts owing
                        in respect of the Obligations (first to interest, fees
                        and indemnities and then to principal) and, if all such
                        Obligations have been then paid in full, then any excess
                        amount shall be returned to Borrower or as otherwise
                        required by applicable Law.

                        (iii) Timing and Application of Voluntary Prepayments of
                              Subfacility Loans. Any voluntary prepayments of
                              Subfacility Loans pursuant to paragraph (a) of
                              this Section 1.5 shall be applied in the following
                              order unless otherwise directed by the Borrower:

                              (1)  First, prepayments shall be applied against
                                   any interest, breakage and other fees,
                                   charges and expenses due and payable in
                                   respect of the Subfacility Loans and
                                   Subfacility Commitment.

                              (2)  Second, prepayments shall be applied against
                                   the Subfacility Loans but with no
                                   corresponding reduction in the amount of the
                                   Subfacility Commitment unless otherwise
                                   specified by Borrower in accordance with
                                   Section 1.7 hereof.

                        Any excess shall be applied to any other amounts owing
                        in respect of the Obligations (first to interest, fees
                        and indemnities and then to principal) and, if all such
                        Obligations have been then paid in full, then any excess
                        amount shall be returned to Borrower or as otherwise
                        required by applicable Law.

                                      -4-
<PAGE>

                        (iv)  Application as between RC Loans and Subfacility
                              Loans. Funds received by the Borrower from
                              Post-Merger NCOP in respect of the NCOP/NCOG
                              Credit Agreement (other than repayments of
                              swingline loans and other than fees and interest
                              that exceed the amount of fees and interest in
                              respect of Subfacility Loans hereunder) shall be
                              applied by the Borrower to prepay or repay
                              Subfacility Loans and fees and interest related
                              thereto; provided, however, that if the making of
                              such principal payment would cause the Borrower to
                              incur any obligation under Section 2.4 (Breakage)
                              herein, so long as no Default or Event of Default
                              has occurred and is continuing, the Borrower shall
                              be entitled to retain such amount until such time
                              as the making of such principal payment would not
                              cause the Borrower to incur such obligation but
                              not later than the Maturity Date. The
                              Administrative Agent may assume that any repayment
                              or prepayment of Loans hereunder shall be applied
                              against the RC Loans unless the Borrower notifies
                              the Administrative Agent that such amounts are to
                              be applied against the Subfacility Loans."

             h.  Time, Place and Manner of Payments by Borrower. Paragraph (a)
of Section 1.6 of the Current Credit Agreement (Time, Place and Manner) is
amended by inserting the following phrase at the end of the first sentence
thereof immediately preceding the period:

                              "except that any payments in respect of
                              Subfacility Loans (including principal thereof,
                              interest thereon or fees in respect thereof) shall
                              be made by depositing the applicable amount in the
                              Disbursement Account."

             i.  Disposition of equity in NCOP. Section 1.7(a) of the Current
Credit Agreement (Reductions of RC Commitment) is amended by adding a new clause
(iv) immediately following clause (iii) thereof as follows:

                 "(iv)  At anytime that an Obligor makes a disposition of equity
                        in Post-Merger NCOP, Borrower shall apply at least 50%
                        of the net cash proceeds received in exchange for such
                        disposition to reduce the RC Commitment."

                                      -5-
<PAGE>

             j.  Reductions of Subfacility Commitment. The Current Credit
Agreement is amended by inserting a new Section 1.7A immediately following the
existing Section 1.7 as follows:

                 "1.7A  Reductions of Subfacility Commitment.

                        (a)   Mandatory Reductions.

                              (i)   Reductions Related to Reductions in RC
                                    Commitment.

                                    The amount of the Subfacility Commitment
                                    shall never exceed the amount of the RC
                                    Commitment. Accordingly, at any time that
                                    the amount of the RC Commitment is reduced
                                    to an amount that would be less than the
                                    amount of the Subfacility Commitment, the
                                    amount of the Subfacility Commitment shall
                                    be automatically reduced by an amount equal
                                    to such excess.

                              (ii)  Reductions in Connection with Reductions on
                                    NCOP/NCOG Credit Agreement Commitment.

                                    The amount of the Subfacility Commitment
                                    shall never exceed the amount of the
                                    commitment under the NCOP/NCOG Credit
                                    Agreement. Accordingly, at any time that the
                                    amount of the commitment under the NCOP/NCOG
                                    Credit Agreement is reduced to an amount
                                    that would be less than the amount of the
                                    Subfacility Commitment, the amount of the
                                    Subfacility Commitment shall be
                                    automatically reduced by an amount equal to
                                    such excess. The Borrower shall give the
                                    Administrative Agent notice of any reduction
                                    in the commitment under the NCOP/NCOG Credit
                                    Agreement.

                              (iii) Other Reductions Beginning 3/31/02.

                                    If the Subfacility Commitment has not been
                                    reduced to Twenty Five Million Dollars
                                    ($25,000,000) or less by March 31, 2002, the
                                    amount of the Subfacility Commitment will be
                                    reduced by an amount equal to Two Million
                                    Five Hundred Thousand Dollars ($2,500,000)
                                    per quarter (or such lesser amount as would
                                    result in the Subfacility Commitment being
                                    equal to $25,000,000) beginning on March 31,
                                    2002 through the quarter ending December 31,
                                    2002 and will be further reduced by an
                                    amount equal to Three Million Seven Hundred
                                    Fifty Thousand Dollars ($3,750,000) per
                                    quarter (or such lesser amount as would
                                    result in the Subfacility Commitment being
                                    equal to $25,000,000) beginning on March 31,
                                    2003 until the Subfacility Commitment has
                                    been reduced to Twenty Five Million Dollars
                                    ($25,000,000).

                                      -6-
<PAGE>

                        (b)   Optional Reductions and Termination.

                              The Borrower may reduce or terminate the
                              Subfacility Commitment by giving the
                              Administrative Agent notice (which shall be
                              irrevocable) thereof no later than 11:00 a.m.
                              (Philadelphia, Pennsylvania time) on the third
                              Business Day (fifth Business Day for termination
                              of the Subfacility Commitment) before the
                              requested date of such reduction or termination,
                              provided, that each partial reduction thereof
                              shall be in an amount equal to One Million Dollars
                              ($1,000,000) or an integral multiple of thereof
                              and, provided, further, that no reduction shall
                              reduce the Subfacility Commitment to an amount
                              less than the aggregate of the principal amount of
                              all Subfacility Loans outstanding on such date
                              (after giving effect to any repayment or
                              prepayment of Subfacility Loans made on or prior
                              to such date). Upon receipt of any such notice,
                              the Administrative Agent shall promptly notify
                              each Lender of the contents thereof and the amount
                              (based on a pro rata reduction to each Lender's
                              Subfacility Commitment) to which such Lender's
                              Subfacility Commitment is to be reduced.

                        (c)   No Reinstatement of Subfacility Commitment.

                              All reductions of the Subfacility Commitment are
                              permanent.

                                      -7-
<PAGE>

                        (d)   Payment.

                              On each date ("Subfacility Reduction Date") on
                              which the Subfacility Commitment is reduced
                              (either voluntarily or involuntarily) the Borrower
                              shall pay to the Administrative Agent the amount,
                              if any, by which the outstanding principal balance
                              of the Subfacility Loans exceeds the amount of the
                              Subfacility Commitment as reduced on such
                              Subfacility Reduction Date."

It is understood that the NCOP/NCOG Credit Agreement will provide that the
commitment thereunder will be reduced by, among other things, an amount equal to
the proceeds from any equity or mezzanine financing of Post-Merger NCOP (or its
subsidiaries) until such time as such facility is reduced to $25,000,000.
Accordingly, pursuant to this new Section 1.7A, the Subfacility Commitment will
be reduced at the same time.

             k.  Additional Fees. Section 1.9 of the Current Credit Agreement
(Fees) is amended by redesignating paragraph (c) thereof as paragraph (e) and by
inserting the following two paragraphs immediately preceding such paragraph:

                 "(c)   Swing Line Subfacility Fee. Until such time as the
                        Subfacility Commitment has been reduced to Twenty Five
                        Million Dollars ($25,000,000), the Borrower shall pay to
                        the Administrative Agent for the account of the Lenders
                        a monthly fee in an amount equal to one percent (1%) per
                        annum of the average daily outstanding amount of the
                        swing line under the NCOP/NCOG Credit Agreement. Such
                        fee shall be payable monthly, in arrears, within five
                        (5) Business Days of the last day of each calendar
                        month. Upon request or at any time that the Disbursement
                        Account is not maintained with the Administrative Agent,
                        Borrower shall provide Administrative Agent with
                        information sufficient to confirm the amount of such
                        fees.

                 (d)    Additional Subfacility Fee. In the event that the amount
                        of the Subfacility Commitment has not been reduced to
                        Twenty Five Million Dollars ($25,000,000) by the
                        sixth-month anniversary of the Amendment Effective Date,
                        the Borrower will pay to the Administrative Agent for
                        the account of the Lenders an additional fee equal to
                        one quarter of one percent (1/4 of 1%) per quarter on
                        the full amount of the then existing Subfacility
                        Commitment, payable quarterly in advance, until the
                        amount of the Subfacility Commitment is reduced to
                        Twenty Five Million Dollars ($25,000,000)."

             l.  Notes. Section 1.11 of the Current Credit Agreement (Promissory
Notes; Records of Account) is amended by adding the following sentence at the
end thereof:

                                      -8-
<PAGE>

                 "No additional Notes shall be required in connection with the
                 Subfacility Loans and Subfacility Commitment; rather the
                 existing Notes shall evidence the Borrower's obligations in
                 connection therewith."

             m.  Pro Rata Treatment. Section 1.12 of the Current Credit
Agreement (Pro Rata Treatment) is amended by adding the following sentence at
the end thereof:

                 "Except to the extent otherwise provided herein, Subfacility
                 Loans shall be made by, and principal, interest and fees in
                 respect thereof shall be paid or repaid to, the Lenders pro
                 rata in accordance with their respective Subfacility
                 Commitments and interest in Subfacility Loans."

             n.  Loans, Advances and Investments. Section 6.5 of the Current
Credit Agreement (Loans, Advances and Investments) is amended by deleting the
word "and" at the end of existing paragraph (h) thereof, by replacing the period
at the end of existing paragraph (i) thereof with the phrase, "; and" and by
inserting the following new paragraph (j) at the end of said Section:

                 "(j)   The NCOP/NCOG Note and extensions of credit under the
                        NCOP/NCOG Credit Agreement, which extensions of credit
                        (other than the swing line loans) may only be made from
                        proceeds of Subfacility Loans (subject to the
                        limitations set forth in Section 6.13)."

             o.  Disposition of Equity in Post-Merger NCOP. Section 6.10 of the
Current Credit Agreement (Disposition of Properties) is amended by deleting the
word "and" at the end of the existing paragraph (c) thereof, by replacing the
period at the end of existing paragraph (d) thereof with the phrase, "; and" and
by inserting the following new paragraph (e) at the end of said Section:

                 "(e)   Subject to the conditions set forth in Section 1.7
                        hereof, Obligors may dispose of equity in Post-Merger
                        NCOP in return for the fair market value of the disposed
                        equity in cash, provided that after giving effect to
                        such disposition, the Obligors collectively retain
                        equity entitling them to at least 51% of the voting
                        power in Post-Merger NCOP."

             p.  Dealings with Affiliates. Section 6.12 of the Current Credit
Agreement (Dealings with Affiliates) is amended by deleting the word "and" at
the end of paragraph (c) thereof, replacing the period at the end of paragraph
(d) thereof with the phrase "; and" and by inserting a new paragraph (e) at the
end thereof as follows:

                                      -9-
<PAGE>

                 "(e)   The transactions under the NCOP/NCOG Credit Agreement
                        and related documents."

             q.  Limitations on Modifications of Certain Agreements and
Instruments. Section 6.15 of the Current Credit Agreement (Limitations on
Modification of Certain Agreements and Instruments) is amended by adding the
following sentence at the end thereof:

                 "Borrower shall not amend, or provide any waiver of the terms
                 of, the NCOP/NCOG Note or NCOP/NCOG Credit Agreement, without
                 the prior written consent of the Majority Lenders except for
                 Permitted Amendments."

             r.  Acquired Delinquent Pools of Accounts. Section 6.13 of the
Current Credit Agreement (Acquired Delinquent Pools of Accounts) is amended and
restated in its entirety to read as follows:

                 "No Obligor shall acquire delinquent pools of Accounts or make
                 investments in entities purchasing delinquent pools of Accounts
                 except

                              (i)   during any time that there shall exist any
                                    outstanding Subfacility Loans or any
                                    Subfacility Commitment, (1) an investment in
                                    Post-Merger NCOP in an aggregate amount (in
                                    cash or the net fair market value of other
                                    assets (determined as of the time the
                                    applicable investment is made)) not in
                                    excess of Twenty-five Million Dollars
                                    ($25,000,000), (2) the extensions of credit
                                    in an aggregate principal amount not
                                    exceeding Fifty Million Dollars
                                    ($50,000,000) under the NCOP/NCOG Credit
                                    Agreement (with the limitations on source of
                                    funding referred to in Section 6.5(j)) and
                                    (3) investments and acquisitions in an
                                    amount up to $5,000,000 made by foreign
                                    Subsidiaries provided, that no funding for
                                    such purpose is provided by an Obligor; and

                              (ii)  at all other times, the amount of the
                                    investment in Post-Merger NCOP plus other
                                    investments and acquisitions made through
                                    Subsidiaries of the Borrower that are
                                    Obligors or foreign Subsidiaries in an
                                    aggregate amount not exceeding at any time
                                    $50,000,000 (for all such investments and
                                    acquisitions including the one in
                                    Post-Merger NCOP).

                 For purposes of subclause (3) of clause (i) and clause (ii) of
                 this Section 6.13, the "amount" of any investment or
                 acquisition shall be determined as follows:

                                      -10-
<PAGE>

                        (a)   with respect to any acquisition of delinquent
                              pools of Accounts, the amount of the unamortized
                              remaining invested balance for all such pools on
                              the consolidated balance sheet of the Borrower,
                              the other Obligors and the foreign Subsidiaries
                              and

                        (b)   with respect to any investment in entities
                              purchasing such pools,

                              (i)   an amount equal to the amount of cash or the
                                    net fair market value of other assets
                                    (determined as of the time the applicable
                                    investment is made) paid by the Borrower or
                                    any other Obligors to acquire such
                                    investments less

                              (ii)  the amount of any cash dividends or other
                                    equity distributions or proceeds of any
                                    permitted sales of such equity received by
                                    the applicable Obligor or foreign
                                    Subsidiary, in the case of equity
                                    investments and the amount of any principal
                                    repayments received by the applicable
                                    Obligor or foreign Subsidiary in the case of
                                    investments in the form of loans or
                                    advances.

                 For purposes of this Section 6.13, the determination of the
                 "amount" of the Borrower's investment in Post-Merger NCOP shall
                 be governed by clause (b) above irrespective of whether
                 Post-Merger NCOP's financial results are consolidated on the
                 Borrower's balance sheet. Any further amendment to this Section
                 6.13 in a manner that provides greater flexibility for the
                 Borrower hereunder shall require the written consent of the
                 Super Majority Lenders."

             s.  Limitation on Transactions with Excluded Subsidiaries. Section
6.19 of the Current Credit Agreement (Limitation on Transactions with Excluded
Subsidiaries) is amended in its entirety to read as follows:

                 "No Obligor shall sell or lease any assets to, or make any loan
                 or advance to, or make any other investment in, or comingle any
                 funds or other assets with, an Excluded Subsidiary except (a)
                 as is permitted by Section 6.13 above (Acquired Delinquent
                 Pools of Accounts), (b) cash management functions approved by
                 the Administrative Agent, (c) loans to and investments in
                 Post-Merger NCOP and other investments permitted by Section 6.5
                 (Investments), (d) servicing arrangements among the Borrower
                 and/or NCO Financial Systems, Inc. and any Excluded Subsidiary,
                 and (e) as is permitted for such transactions with unaffiliated
                 third parties."

                                      -11-
<PAGE>

             t.  Additional Events of Default. Section 7.1 of the Current Credit
Agreement (Events of Default) is amended by adding the following sentence at the
end of paragraph (d) thereof:

                 "Without limiting the generality of the foregoing, there shall
                 be any default by any Person (other than the Administrative
                 Agent and/or Lenders) under the Special Suretyship Agreement,
                 NCOP/NCOG Subordination Agreement, Additional Subfacility
                 Security and Pledge Agreement and instruments and agreements
                 delivered in connection therewith."

Section 7.1 of the Current Credit Agreement is also amended by adding the
following additional paragraphs (s) and (t) at the end thereof:

                 "(s)   At any time that there shall exist any Subfacility Loans
                        outstanding or there is any Subfacility Commitment in
                        effect, the Special Suretyship Agreement, the Additional
                        Subfacility Security and Pledge Agreement or the
                        NCOP/NCOG Subordination Agreement shall fail to remain
                        in full force and effect or the Administrative Agent
                        shall fail to have a valid and perfected first-priority
                        security interest in the Additional Subfacility Security
                        subject only to permitted liens."

                 (t)    The principal amount outstanding under the NCOP/NCOG
                        Credit Agreement (exclusive of swing line loans provided
                        thereunder) shall exceed the principal amount of
                        outstanding Subfacility Loans and such condition shall
                        exist for more than three (3) Business Days."

             u.  Additional Definitions. The following new definitions are added
in their correct alphabetical location in Section 10.1 of the Current Credit
Agreement (Certain Definitions):

                 "Additional Subfacility Security" means the significant
             unencumbered personal property (excluding fixtures) of Post-Merger
             NCOP and its Subsidiaries (excluding the Non-Surety Entities and
             excluding assets transferred to Non-Surety Entities) but including,
             in any event, all equity of Subsidiaries of Post-Merger NCOP held,
             directly or indirectly, by Post-Merger NCOP (exclusive of such
             equity of Non-Surety Entities as is properly designated, from time
             to time, as "Excluded Properties" in the Additional Subfacility
             Security and Pledge Agreement) as more fully set forth in the
             Additional Subfacility Security and Pledge Agreement.

                 "Additional Subfacility Security and Pledge Agreement" means
             the one or more security agreements in favor of Mellon Bank as
             Collateral Agent, (for itself, the Lenders and other secured
             parties referred to therein), granting a security interest pursuant
             to the Uniform Commercial Code in the Additional Subfacility
             Security, executed by Post-Merger NCOP and its Subsidiaries (other
             than the Non-Surety Entities), as the same may be amended,
             restated, modified and/or supplemented from time to time with the
             consent of the Majority Lenders.

                                      -12-
<PAGE>

                 "Adjusted Consolidated NCO Group" means the following:

                                    (i)     For so long as there shall exist any
                                            outstanding Subfacility Loans or
                                            there shall exist any Subfacility
                                            Commitment, "Adjusted Consolidated
                                            NCO Group" shall mean the Borrower
                                            and its consolidated Subsidiaries,
                                            (including, without limitation,
                                            Post-Merger NCOP and its
                                            Subsidiaries).

                                    (ii)    At all other times, "Adjusted
                                            Consolidated NCO Group" shall mean
                                            Borrower and its consolidated
                                            Subsidiaries (except Post-Merger
                                            NCOP and its Subsidiaries).

                 "Amendment Effective Date" means the date on which the
             amendments set forth in Section 1 of the Fifth Amendment and Waiver
             to Fifth Amended and Restated Credit Agreement ("Fifth Amendment")
             becomes effective in accordance with the terms of the Fifth
             Amendment.

                 "Available Subfacility Commitment" means, as of any date, the
             difference obtained by subtracting (b) from (a) where (a) is the
             amount of the Subfacility Commitment on such date and (b) is the
             aggregate outstanding principal amount of all Subfacility Loans,
             provided, however, the amount of the Available Subfacility
             Commitment shall never exceed the amount of the Available RC
             Commitment.

                 "Creditrust" has the meaning ascribed to that term in the
             recitals to the Fifth Amendment.

                 "Disbursement Account" means a deposit account maintained
             exclusively for the Subfacility Loans and repayments thereof and
             the extensions of credit and repayments thereof under the NCOP/NCOG
             Note, which account shall be subject to a valid, first-priority
             security interest in favor of the Administrative Agent (for the
             benefit of itself, the Lenders and other secured parties referred
             to in the Additional Subfacility Security and Pledge Agreement).

                 "Merger" shall have the meaning ascribed to that term in the
             recitals to the Fifth Amendment.

                 "NCOP/NCOG Credit Agreement" means a credit agreement between
             the Borrower and Post-Merger NCOP providing for revolving credit
             loans from Borrower to Post-Merger NCOP in an aggregate principal
             amount not to exceed $50,000,000 at any time, in form and substance
             satisfactory to the Majority Lenders, as the same may be amended,
             restated, modified and/or supplemented from time to time with the
             consent of the Majority Lenders (except for Permitted Amendments).

                                      -13-
<PAGE>

                 "NCOP/NCOG Note" means a promissory note to be issued by
             Post-Merger NCOP to the Borrower pursuant to the NCOP/NCOG Credit
             Agreement, in form and substance satisfactory to the Majority
             Lenders, as the same may be amended, restated, modified and/or
             supplemented from time to time with the consent of the Majority
             Lenders (except for Permitted Amendments).

                 "NCOP/NCOG Subordination Agreement" means a subordination
             agreement among Post-Merger NCOP and the Administrative Agent
             pursuant to which the obligations under the NCOP/NCOG Note shall be
             subordinated to the Obligations, as the same may be amended,
             restated, modified and/or supplemented from time to time with the
             consent of the Majority Lenders.

                 "Non-Surety Entities" means those Subsidiaries of Post-Merger
             NCOP or other entities in which Post-Merger NCOP owns an interest
             that are not required to guaranty the Subfacility Loans pursuant to
             the Special Suretyship Agreement. Initially, the Non-Surety
             Entities are those entities set forth on Schedule 10.1A hereto,
             provided, however, Borrower, at the request of Post-Merger NCOP,
             may submit additional names of subsidiaries of Post-Merger NCOP,
             from time to time, that it wishes to be included on the list of
             Non-Surety Entities subject to the limitations thereon provided in
             the NCOP/NCOG Credit Agreement. If the Administrative Agent
             consents to the inclusion of such entities as Non-Surety Entities
             (which consent will be given so long as the applicable designation
             is made in conformity with the relevant provisions of the NCOP/NCOG
             Credit Agreement and Suretyship Agreement), those additional named
             entities shall be added to the list of Non-Surety Entities, and the
             Borrower shall deliver to each of the Lenders a revised Schedule
             10.1A which will replace the Schedule 10.1A attached hereto.

                 "Permitted Amendments" means, with respect to the NCOP/NCOG
             Credit Agreement or any agreements or instruments entered into in
             connection therewith, any amendment that (a) does not increase the
             total amount of the NCOP/NCOG Credit Agreement commitment; that
             does not decrease the rate of interest or fees payable thereunder;
             does not extend the final maturity or any mandatory reduction in
             the amount of the facility; does not change the unsecured nature of
             the facility; does not change financial covenants; does not permit
             additional Indebtedness in an aggregate amount in excess of
             $500,000; does not permit additional Liens except to secure the
             aforesaid permitted additional indebtedness; does not change the
             definition of Excluded Subsidiaries or Non-Surety Entities; does
             not change provisions respecting transactions between Post-Merger
             NCOP and its Subsidiaries (other than the Non-Surety Entities), on
             the one hand, and the Non-Surety Entities, on the other hand; and
             does not permit additional acquisitions or dispositions outside of
             the ordinary course of business; and (b) is acceptable to the
             Administrative Agent in its sole discretion. Any determination made
             by the Administrative Agent as to whether an amendment is a
             Permitted Amendment is conclusive, absent manifest error.

                                      -14-
<PAGE>

                 "Post-Merger NCOP" means the surviving entity following the
             Merger. Post-Merger NCOP will be an Excluded Subsidiary.

                 "Servicing Agreement" means an agreement between Post-Merger
             NCOP and its significant subsidiaries, on the one hand, and the
             Borrower and/or NCO Financial Systems, Inc., on the other hand,
             providing for the servicing of accounts receivable portfolios by
             the Borrower or NCO Financial Systems, Inc., as the case may be, as
             such agreement may be amended, restated, supplemented and/or
             modified from time to time with the consent of the Administrative
             Agent.

                 "Special Suretyship Agreement" means a suretyship agreement
             among Post-Merger NCOP and its Subsidiaries (other than the
             Non-Surety Entities) and the Administrative Agent (for the benefit
             of the Lenders and other Persons specified therein as beneficiaries
             thereof) respecting the Subfacility Loans and certain related
             obligations, as such agreement may be amended, restated,
             supplemented and/or modified from time to time with the consent of
             the Majority Lenders.

                 "Subfacility Commitment" means, with respect to any Lender, (a)
             the obligation of such Lender to make Subfacility Loans in an
             amount as set forth opposite such Lender's name under the heading
             "Subfacility Commitment" on Schedule 1.1 (as such Schedule may be
             amended from time to time) hereto or, in the case of a Lender that
             becomes a Lender pursuant to an assignment, the amount of the
             assignor's Subfacility Commitment assigned to such Lender, in
             either case, as the same may be reduced from time to time pursuant
             to the terms hereof or increased or reduced from time to time
             pursuant to assignments in accordance with Section 11.9 below, or
             (b) as the context may require the obligation of such Lender to
             make Subfacility Loans in an aggregate unpaid principal amount not
             exceeding such amount; and "Subfacility Commitment" means, with
             respect to all Lenders, the sum of their individual Subfacility
             Commitment.

                 "Subfacility Maturity Date" means the Maturity Date or any
             earlier date on which the Subfacility Commitment is terminated.

                 "Subfacility Loans" has the meaning ascribed to such term in
             Section 1.2.

                 "Subfacility Reduction Date" has the meaning ascribed to such
             term in Section 1.7A.

As to the Non-Surety Entities, it is understood that (a) the NCOP/NCOG Credit
Agreement will limit the amount that Post-Merger NCOP and its subsidiaries
(other than Non-Surety Entities) may invest in Non-Surety Entities and, (b)
except for those limited investment exceptions, Post-Merger NCOP and its
subsidiaries (other than Non-Surety Entities) will be prohibited from
transferring assets to, and commingling assets with, the Non-Surety Entities in
a manner similar to the restrictions set forth in Section 6.19 of the Credit
Agreement for transactions with Excluded Subsidiaries.

                                      -15-
<PAGE>

             v.  Amendment to Certain Definitions. The following definitions set
forth in Section 10.1 of the Current Credit Agreement (Certain Definitions) are
amended in the manner set forth below.

                 (i)    The definition of "Applicable Margin" is amended by
                        inserting the following paragraph at the end thereof:

                        "Notwithstanding the foregoing, the Applicable Margin
                        for Subfacility Loans shall be 1.00% greater than the
                        Applicable Margin for all other Loans set forth above
                        until the later of (a) such time as the Subfacility
                        Commitment is reduced to an amount no greater than
                        $25,000,000 and (b) the date which is six months after
                        the Amendment Effective Date."

                 (ii)   The term "NCO Group and its consolidated Subsidiaries"
                        in the definitions of "Consolidated EBIT", "Consolidated
                        EBITDA", "Consolidated Fixed Charge Coverage Ratio",
                        "Consolidated Funded Debt", "Consolidated Interest
                        Coverage Ratio", "Consolidated Interest Expense",
                        "Consolidated Net Income", "Consolidated Net Worth", and
                        "Consolidated Senior Debt" is replaced, in each case,
                        with the phrase "Adjusted Consolidated NCO Group".

                 (iii)  The definition of "Indebtedness" is amended by adding
                        the following at the end thereof:

                        "Notwithstanding the foregoing, for financial covenant
                        purposes, Indebtedness will not include non-recourse
                        debt associated with securitized pools of receivables of
                        Post-Merger NCOP and its Subsidiaries.

                 (iv)   The definition of "RC Commitment" is amended by
                        replacing the word "Loans" in both clause (a) and clause
                        (b) thereof with the phrase "RC Loans".

             w.  Indemnification. Section 11.12 of the Current Credit Agreement
(Indemnification) is amended by inserting the following sentence after the first
sentence thereof:

                 "Without limiting the generality of the foregoing, the
                 Indemnification provided for in the preceding sentence shall
                 include, without limitation, all losses, liabilities, claims,
                 damages, expenses, obligations, penalties, actions, judgments,
                 suits, costs or disbursements of any kind or nature whatsoever
                 arising out of, or any way related to the Subfacility Loans,
                 the Special Suretyship Agreement, the Additional Subfacility
                 Security and Pledge Agreement and the NCOP/NCOG Subordination
                 Agreement."

                                      -16-
<PAGE>

             x.  Expenses. Section 11.13 of the Current Credit Agreement
(Expenses) is amended by adding the following sentence at the end thereof:

                 "Without limiting the generality of the foregoing, the expense
                 obligations under this Section 11.13 relate to all expenses
                 incurred by the Administrative Agent in connection with the
                 NCOP/NCOG Subordination Agreement, the Additional Subfacility
                 Security and Pledge Agreement, the Special Suretyship Agreement
                 and the transactions contemplated thereby, amendments thereto
                 and enforcement thereof."

             y.  Sharing of Collections. Section 11.18 of the Current Credit
Agreement (Sharing of Collections) is amended by replacing the word
"Obligations" throughout said Section with the phrase, "Loans and obligations in
respect of Letters of Credit".

             z.  Notice of Borrowing. Exhibit B to the Current Credit Agreement
(Notice of Borrowing) is amended in its entirety to read as set forth on Exhibit
B hereto.

             aa. Notice of Prepayment. Exhibit C to the Current Credit Agreement
(Notice of Prepayment) is amended in its entirety to read as set forth on
Exhibit C hereto.

             bb. LIBOR Rate Election. Exhibit D to the Current Credit Agreement
(LIBOR Rate Election) is amended in its entirety to read as set forth on Exhibit
D hereto.

             cc. Amended and Restated Security Agreement. Exhibit E to the
Current Credit Agreement (Amended and Restated Security Agreement) is amended in
its entirety to read as set forth on Exhibit E hereto.

             dd. Assignment and Acceptance Agreement. Exhibit L to the Current
Credit Agreement (Assignment and Acceptance Agreement) is amended in its
entirety to read as set forth on Exhibit L hereto.

             ee. Schedule 1.1. Schedule 1.1 (Commitments of Lenders) to the
Current Credit Agreement is amended in its entirety to read as set forth on
Schedule 1.1 hereto.

             ff. Schedule 5.16. Schedule 5.16 (Excluded Subsidiaries) to the
Current Credit Agreement is amended in its entirety to read as set forth on
Schedule 5.16 hereto.

             gg. Schedule 10.1. A new Schedule 10.1 (Non-Surety Entities/NCOP
Non-Recourse Debt) in the form attached hereto as Schedule 10.1 is added to the
Current Credit Agreement.

                                      -17-
<PAGE>

         2.  REPRESENTATIONS AND WARRANTIES. The Borrower represents and
warrants to the Lenders as follows:

             a. Credit Agreement. Each of the representations and warranties
contained in the Credit Agreement is accurate on and as of the date hereof.

             b. No Defaults. As of the date hereof, no Default or Event of
Default exists.

         3.  CONTINUING EFFECTIVENESS OF CREDIT AGREEMENT AND OTHER LOAN
DOCUMENTS. In the case of the Credit Agreement, subject to the amendments
provided herein and, in the case of other Loan Documents, subject to the
amendments referred to on Annex I hereto, the Credit Agreement and each other
Loan Document remains in full force and effect and is hereby ratified.

         4.  EFFECTIVENESS. This Amendment shall be effective when each of the
conditions specified on Annex I hereto is satisfied (or, with the consent of the
Administrative Agent, provision is made for such satisfaction promptly after
closing), so long as such conditions are satisfied no later than March 31, 2001.

         5.  COUNTERPARTS. This Fifth Amendment may be executed in any number of
counterparts, each of which shall be an original and all of which, when taken
together, shall constitute one instrument.

                        [Signatures begin on next page.]

                                      -18-
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first above written.

                                          NCO GROUP, INC.

                                          By:___________________________________
                                             Michael J. Barrist,
                                             as President

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          MELLON BANK, N.A.,
                                          for itself and as Administrative Agent
                                          and as Collateral Agent

                                          By:___________________________________
                                             Liam M. Brickley
                                             Vice President

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          PNC BANK, NATIONAL ASSOCIATION

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          BANK OF AMERICA, N.A.

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          FIRST UNION NATIONAL BANK

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          SUNTRUST BANK

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          UNION BANK OF CALIFORNIA, N.A.

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          NATIONAL CITY BANK OF PENNSYLVANIA

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          SUMMIT BANK

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          PROVIDENT BANK OF MARYLAND

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          MANUFACTURERS AND TRADERS TRUST
                                          COMPANY

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          FLEET NATIONAL BANK

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          CITIZENS BANK OF MASSACHUSETTS

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          CHEVY CHASE BANK, F.S.B.

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          IBM CREDIT CORPORATION

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          BANK AUSTRIA CREDITANSTALDT
                                          CORPORATE FINANCE, INC.

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                          FIRSTAR BANK, N.A.

                                          By:___________________________________
                                             Name:
                                             Title:

                       [Signature Page to Fifth Amendment
                to NCO Credit Agreement and Other Loan Documents]

<PAGE>

                                     ANNEX I

                           CONDITIONS TO EFFECTIVENESS

a. Execution of Amendment. Each of the Requisite Lenders, the Administrative
Agent, the Borrower and the Collateral Agent shall have executed a counterpart
to the preceding Fifth Amendment.

b. Guarantor Acknowledgement and Modification. Each of the Guarantors shall have
executed a counterpart to the Acknowledgement and Modification to Loan
Documents.

c. Special Suretyship Agreement. Post-Merger NCOP, its Subsidiaries (other than
the Non-Surety Entities) and the Administrative Agent shall have duly executed a
Special Suretyship Agreement.

d. NCOP/NCOG Subordination Agreement. The Borrower, in its capacity as a
creditor of Post-Merger NCOP, Post-Merger NCOP and the Collateral Agent shall
have duly executed a NCOP/NCOG Subordination Agreement.

e. Additional Subfacility Security and Pledge Agreement. Post-Merger NCOP, each
of its Subsidiaries (other than the Non-Surety Entities) and the Collateral
Agent shall have duly executed and delivered an Additional Subfacility Security
and Pledge Agreement as to the Additional Subfacility Security, Post-Merger NCOP
and such Subsidiaries shall have delivered such UCC-1 financing statements in
proper form for recording and related documentation as are reasonably
satisfactory to the Collateral Agent.

f. Lien Searches. The Borrower shall have delivered lien searches with respect
to Post-Merger NCOP and its subsidiaries, acceptable to the Administrative
Agent.

g. NCOP/NCOG Credit Agreement Documentation. The Borrower shall have delivered a
copy of the executed NCOP/NCOG Note, the NCOP/NCOG Credit Agreement and related
documentation, which shall be in form and substance satisfactory to the Majority
Lenders (their satisfaction to be evidenced by their execution of the Fifth
Amendment).

h. The Merger. The Merger shall have been consummated.

<PAGE>

i. Reorganization of Creditrust. A copy of the Plan of Reorganization of
Creditrust, Inc. shall have been delivered to the Lenders. The Plan of
Reorganization shall have been consummated for purposes of the financing,
without prejudice to the rights of Post-Merger NCOP under ss.1127(b) and similar
sections of the Bankruptcy Code and, in connection therewith, the Bankruptcy
Court shall have approved the financing arrangements under the NCOP/NCOG Credit
Agreement.

j. Forms U-1. A Form U-1 for each Lender indicating that the Loans do not
violate Regulation U of the Board of Governors of the Federal Reserve System.

k. Capitalization of Post-Merger NCOP. The capitalization of Post-Merger NCOP
shall be reasonably satisfactory to the Majority Lenders, their execution of the
Fifth Amendment to be evidence of their satisfaction.

l. Delivery of Stock and Note. The Borrower shall have delivered to the
Collateral Agent pursuant to the Security Agreement the original NCOP/NCOG Note
and stock certificate of Post-Merger NCOP held by the Borrower, along with the
related note and stock powers.

m. Incumbency Certificate, Resolutions, Etc. The Borrower shall have delivered
to the Administrative Agent an incumbency certificate as to each of the
Borrower, each Guarantor, Post-Merger NCOP and each of its Subsidiaries (other
than the Non-Surety Entities), resolutions of the governing body of each such
entity and, to the extent not previously delivered, copies of the organizational
documents of each such entity.

n. Good Standing Certificates. The Borrower shall have delivered good standing
certificates issued as of a recent date by the Secretary of State of each
jurisdiction in which the entities referred to in the preceding paragraph (m) is
formed.

o. Servicing Agreement. The Borrower shall have delivered a copy of the
Servicing Agreement.

p. Financial Statements for Creditrust. The Borrower shall have delivered to the
Lenders copies of all available financial statements for Creditrust, Inc. and
projections relating to Post-Merger NCOP for the period commencing on the
Amendment Effective Date and ending on the Maturity Date.

q. No Material Adverse Change. There shall have been no material adverse change
that has occurred and is continuing since delivery of the most recent financial
statements in the business, operations or condition (financial or otherwise) in
the Borrower and Guarantors taken as a whole or in Creditrust, Inc. and its
Subsidiaries, taken as a whole.

<PAGE>

r. Disbursement Account. The Disbursement Account shall have been opened.

s. Opinions. The Administrative Agent shall have received (a) an opinion of
counsel to the Borrower and Guarantors as to the Fifth Amendment and the other
documents entered into in connection therewith and (b) an opinion of counsel to
Post-Merger NCOP as to the Additional Subfacility Security and Pledge Agreement,
the NCOP/NCOG Subordination Agreement, the Special Suretyship Agreement and such
other matters as the Administrative Agent shall deem appropriate.

t. No Default; Truth of Representations. There shall exist no Default or Event
of Default under the Current Credit Agreement prior to the Merger and related
transactions and, after giving effect to the Fifth Amendment, after the Merger
and related transactions. The representations and warranties made by the
Obligors in the Loan Documents shall be true and correct in all material
respects prior to the Merger and related transactions and, after giving effect
to the Fifth Amendment, after the Merger and related transactions.

u. Fees. The Borrower shall have paid to each Lender the remaining portion of
the Amendment Fee payable in connection with this Amendment, which fee is equal
to one quarter of one percent (1/4 of 1%) of each Lender's RC Commitment, (half
of which amount was paid at the time that the Third Amendment to Credit
Agreement and Commitment for Subfacility Amendment to Credit Agreement, dated
December 15, 2000, was signed and half of which amount is payable on or before
the Amendment Effective Date).

v. Expenses. The Borrower shall have paid the expenses of the Administrative
Agent, including without limitation, the reasonable fees of its counsel, Drinker
Biddle & Reath LLP.

w. Other Information. The Administrative Agent shall have received such other
documentation and information as it shall reasonably request.

<PAGE>

                                  SCHEDULE 1.1

                              COMMITMENT OF LENDERS

<TABLE>
<CAPTION>

                                                       SUBFACILITY
LENDER                          RC COMMITMENT           COMMITMENT               %
------                          -------------          -----------            ------
<S>                              <C>                    <C>                    <C>
Mellon Bank, N.A.                $50,000,000            $7,142,885             14.29

Bank of America, N.A.            $35,000,000            $5,000,000             10.00

First Union National Bank        $35,000,000            $5,000,000             10.00

PNC Bank, N.A.                   $35,000,000            $5,000,000             10.00

Union Bank of California         $25,000,000            $3,571,425              7.14

IBM Credit Corporation           $25,000,000            $3,571,425              7.14

SunTrust Bank                    $25,000,000            $3,571,425              7.14

Bank Austria Creditanstaldt
Corporate Finance, Inc.          $20,000,000            $2,857,140              5.71

Fleet National Bank              $20,000,000            $2,857,140              5.71

Citizens Bank of
Massachusetts                    $15,000,000            $2,142,855              4.29

Firstar Bank                     $15,000,000            $2,142,855              4.29

National City Bank               $15,000,000            $2,142,855              4.29

Manufacturers and
Traders Trust Company            $10,000,000            $1,428,570              2.86

Provident Bank of Maryland       $10,000,000            $1,428,570              2.86

Summit Bank                      $10,000,000            $1,428,570              2.86

Chevy Chase Bank                  $5,000,000              $714,285              1.43

TOTAL                           $350,000,000           $50,000,000            100.00

</TABLE>

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