Company Description
MFN Financial Corporation (formerly Mercury Finance Company) is a consumer finance company which acquires individual installment sales finance contracts from automobile dealers, retail vendors, extending short term installment loans to customers and selling credit insurance and other related products. The company had filed for bankruptcy under chapter 11 proceedings in July 1998 and emerged from such proceedings on 23rd March 1999. Interest income accounted for 92% of 1999 revenues; insurance premiums, 5%; commissions, fees & other, 2% and credit card and other, 1%.
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