A 49 per cent increase in debt ledger purchases drove higher earnings for the debt collection company Credit Corp.Credit Corp made a net profit of A$31.9 million for the year to June, an increase of 20.8 per cent over the previous corresponding period. After adjusting for a one-off litigation settlement, the company reported a 12 per cent increase in underlying profit, to $29.2 million.Revenue was up 11 per cent, to $138 million.The company spent a record $137 million buying debt ledgers, compared with $92 million the previous year. The face value of the company's debt portfolio rose from $3.6 billion to $4 billion in the year to June.Credit Corp chief executive Thomas Beregi said in a statement that the company had a "healthy purchasing pipeline" for the coming year. So far, in the current financial year, it has spent $47 million on debt purchases and expects to spend between $70 million and $90 million in the full year.Credit Corp launched a United States division during 2011/12 and purchased A$2.2 million of debt in that year. US debt purchases rose to $5 million during the year to June.Beregi said debt purchasing conditions in the US were "challenging".The company also launched a consumer lending business, MoneyStart, in 2011/12. The loan book has increased from $6 million, at the end of 2011/12, to $19 million.MoneyStart offers loans of up to $5000, with terms of one to three years, to those with previous credit defaults to their name.