Ethical Strategies

The debt collection and purchase market over the past 5 years has shown an upsurge in activity. Direct Bailiff Services Limited and Churchill Recovery Solutions Limited have, in the past 12 months, worked hard to design economical collection programmes that are both realistic and challenging to meet a demand that the whole industry is experiencing.

There has been an overwhelming amount of interest in the debt collection industry but also further recent criticism from people who believe that the debt recovery market shouldn’t have their own collection agency awards. My view is clear; professionalism and good practice should be honoured in every industry and the debt collection industry should not be viewed any different.

Collection departments, both in-house and within debt agencies, have never been under such pressure to perform. With creditors facing regulatory pressures from a whole host of government departments, watchdogs and quangos, the behaviour and focus of instructing clients has shifted more to a rescue culture with legislative changes making an array of formal insolvency solutions increasingly more attractive and available to debtors.

The Changing Face of Debtors

The profile of the typical insolvent debtor:
• Male
• In-rented accommodation
• Debts 2.5 times net of household income

How has this position arisen?
• Want
• Peer pressure
• Education
• Easy credit

So what lessons can be learnt and are debtors actually responsible!?!

We work in devising collection strategies for clients with effective results. The view is taken that poor decisions equal greater cost and poor results. We make it our business to know our debtors; we assess the prospect of success in order to achieve appropriate and effective collection routes.

Careful preparation = less cost + good results