Credit, Collections & Insolvency News
Debt collection agency Advanced Collection Systems (ACS) has received support from Innovate UK, the UK’s Innovation Agency and executive arm of the Department for Business, Energy & Industrial Strategy (BEIS), to develop and launch an intelligent software solution with the goal of changing the debt recovery model used throughout the sector. The project will be…
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Intrum Justitia has entered into an agreement to acquire 1st Credit, a mid-sized purchased debt company in the United Kingdom. The purchase price on a cash and debt free basis is about £130 million, attributable to a diversified portfolio of receivables, deriving from investments from several sellers in the financial industry. 1st Credit generated earnings…
Read moreThe Treasury should review lessons learned from the sale of former Northern Rock assets and ensure these are shared across government, the Committee of Public Accounts has said. In a new Report, the Committee concludes there are “many positives” from the sale but identifies areas for improvement, “particularly during the preparation phase”. The Committee recommends…
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Technology advances are quietly changing the face of the Collections industry and there are significant implications for organisations that don’t keep up with consumer demand and recognise the potential both financially and operationally. Customer Service as it stands is a frustrating business and rarely achieves positive results. Do you remember the last time that you…
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