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Ownership of DCA's


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Just shows how deluded these private equity bosses are when they say things like "debts have to be repaid".....not without the correct paperwork & not without court approval 1st, they dont :)

"They believe they deal sensitively"........ooooh there goes that pig :rolleyes:

"There are many people who simply refuse to pay their debts".....yeah & im one of them, what you going to do about it morons, send threatograms?

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from bridgepoints web site

 

http://www.bridgepoint.eu/sites/default/files/Dawn_of_Debt.pdf

 

extracts

 

"We are actively being sold debt,

rather than getting on our knees

to beg for it," says Ken Culley,

chairman of debt collection

business 1st Credit and former

chief executive of Portman

Building Society.

Behind these sorry affairs,

however, lies another story: that

debt is a massive, fast-growing

and largely successful business.

For every pound or euro that is

lost in bad debts, many more are

being made from fees or interest

payments.

"Our clients are

primarily banks and credit card

organisations and they sell us their

bad debts," explains Mike Cleary,

chief executive of 1st Credit. "By

the time we get it, they have

normally tried many different

ways to get their money back but

we can be much more flexible

about the length of time

customers take to repay and the

amount they pay each month.

Some customers pay back as little

as £1 a month."

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