The Credit Services Association (CSA) has issued some simple guidance around debt, and particularly how to avoid becoming a case of ‘mistaken identity’ and how to resolve the matter should it occur. · Keep creditors up-to-date with current contact details: If you move, change phone number, email address, or even change your name, inform all…
Read more
GFKL Lowell Group has announced the appointment of Thomas Dold, previously CEO of Tesch Inkasso Group, as DACH (Germany, Austria, and Switzerland) Regional Manager with immediate effect. The Regional Manager role is a new one for the Group and is introduced to bring the capacity and capability necessary to drive the Group’s growth. Thomas Dold…
Read moreEquifax has commented that the clock has started for Telco businesses to prepare for new data protection rules. Neil Compton, Telco and Utilities Director at Equifax said “Privacy and data protection are high on the agenda for consumers and regulators. Telcos are custodians of vast amounts of data and must start overhauling their procedures now to…
Read more
Intrum Justitia and Lindorff have announced plans to create Europe’s leading debt collection credit management service. The two companies have a local presence in 23 markets across Europe and a team of more than 8,000 employees. By joining forces, both local and global clients will benefit from a strong pan-European platform, enhanced service offering, innovative…
Read moreDebt 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…
Read more
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 moreArrow Global Group PLC has announced is results for the nine months ended 30 September 2016 (“Q3 2016”). Tom Drury, Group chief executive officer of Arrow Global said “Arrow Global continues to expand its European footprint and client offering across attractive markets where the Group is targeting leadership positions. This coupled with a high-quality and diversified…
Read moreHere is an overview of The Money Charity’s latest statistics for November 2016: Personal debt in the UK People in the UK owed £1.503 trillion at the end of September 2016. This is up from £1.451 trillion at the end of September 2015 – an extra £1036.58 per UK adult. Per adult in the UK…
Read more
Household debts have risen to £1.5 trillion in the UK for the first time, new statistics from The Money Charity. After a period of flat growth, debt has begun to rise again in recent years. The Money Charity, which compiled the statistics, says UK adults owe an average of nearly £30,000 each – mostly in…
Read more
Aberdeenshire Council is sending messages through Facebook and WhatsApp in a bid to recoup unpaid rent. The Council has been contacting people living in council homes who are in debt using methods other than just post. A total of 35 evictions were carried out by the local authority in 2015/16, with £104,830 owed to the council.…
Read more
Perth and Kinross Council was forced to write-off nearly £300,000 of outstanding debts mainly due to rent arrears. In response to the problem the local authority launched its Rent 1st campaign to highlight the importance of making payments and offering extra support and advice for people who are struggling to pay. Now the housing and health…
Read more
Lindorff has announced a strong a strong performance in Q3 2016. Net revenue in the quarter was EUR 167m, an increase of 26 percent compared to the same quarter last year, and adjusted EBITDA excluding non-recurring items was up 32 percent to EUR 110m compared to the same quarter last year. The growth was driven…
Read more
Motormile Finance UK Limited, a debt purchase and collections firm, has entered into an agreement with the Financial Conduct Authority (FCA) to provide redress to more than 500,000 customers for historic failures in its due diligence and collections process. The firm had inadequate systems and controls over due diligence. In particular, it failed to conduct sufficient…
Read more