Credit Today Story

[cashins]

Talking up the business?

 

Collections performance stabilises in 2009 - 18/09/2009

 

 

Customer payments to debt collection agencies have stabilised in the last two quarters according to research by the Credit Services Association (CSA) and the Debt Buyers and Sellers Group (DBSG).

 

The trade associations’ collectability index provides an indication of debtor ability and willingness to pay by measuring the full settlements and payment plans agreed with the industry’s biggest collection companies. Both the index of instalments and the index of settlements stabilised in the first two quarters of 2009, following a continuous decline in 2008.

 

CSA executive director Kurt Obermaier said this could indicate that we are in a bottoming out period of consumer’s ability to pay. "However these are early indicators and no firm conclusion can be reached until quarters three and four 2009, perhaps even quarter one 2010," he said.

 

Worsening employment figures mean it is too early to say the lowest point for collections has been reached.

 

Oh really.

Most DCA's are in the red but these figures include pitiful revaluations of book value, ( 1st credit £5.5 mill - which must be less than 1% reduction!!!).

The accounts are also historic 2007 - 2008, 2008 - 2009 will be an absolute disaster.

I think there will be a fair number that don't survive.

 

 

Meanwhile, the proportion of settlements agreed has dropped. An average of 33 per cent of consumers were able or willing to fully settle their debts in the first two quarters in 2008 compared with an average of only 25 per cent for the same period of 2009.

 

David

[mr.ton]

Hmmm...id take it with pinch of salt.

Their spin department obviously having a boring day

[F_DCAs]

Hopefully, we'll see a few DCAs going destitute.

 

Can't afford to subsidise your pools, cars, weekend p*ss-ups there, Mr Maynard/Mr K*****n/Mr MacKenzie/Mr Carter/Mr Bartle? (apply any workable MD name)

 

Shame - my heart bleeds for you. I might drop a penny in your tin if I pass you - oh no, that's spit!

Edited September 18, 2009 by F_DCAs

[sillygirl1]

And I notice that Mucky Hall are stilla dvertising for a Chief Operating Officer - how the once 'mighty' have fallen!

 

Well done all CAGGERS who have had complaints upheld against DCAs and got them to admit they can't chase...

[Huff&Puff]

CSA executive director Kurt Obermaier said this could indicate that we are in a bottoming out period of consumer’s ability to pay

 

Since when has a DCA ever considered anybodys [in]ability to pay? Every one that I've had the misfortune to deal with has acted as if I've just won the lottery When I did once try to reason with one that I'm on disability benefits they didn't take a blind bit of notice

[cashins]

Since when has a DCA ever considered anybodys [in]ability to pay? Every one that I've had the misfortune to deal with has acted as if I've just won the lottery When I did once try to reason with one that I'm on disability benefits they didn't take a blind bit of notice

 

Ah! Although they scream/shout and threaten to boil your head in oil, if you can't pay they're stuffed.

 

The only sanction they have, (if they've bought it) is to take you to court or, advise the OL to sue if they are just agents. It is axiomatic that you are on a hiding to nothing suing someone who can't pay you.

 

Huff&Puff

 

Judges are of the view that it is not the purpose of state benefits to pay debt collectors. If you are paying any collector more than £1 per month, reduce the payments to that now.

 

That's around the order of payments that a judge would award.

 

David

[Huff&Puff]

The only payment that I'm making is £2 a month for a CCJ that Bryan Carter won, before I discovered CAG But it's OK, he split his claim. I'll pay it off later this year (~£300), and he can go and get stuffed for the other ~£6500

 

Everything else is Stat Barred apart from one totally unenforceble one where I just ignore Aktiv Kapital completely

[cashins]

The only payment that I'm making is £2 a month for a CCJ that Bryan Carter won, before I discovered CAG But it's OK, he split his claim. I'll pay it off later this year (~£300), and he can go and get stuffed for the other ~£6500 :grin:

 

Wised up to him then!

 

David

[Kraken1]

who chases for the debts a dca owes?

[cashins]

who chases for the debts a dca owes?

 

Good point, don't think you would get far asking one DCA to chase another.

 

David

[Kraken1]

I suppose it is a sort of cannibalism. Six dcas, after narrowly surviving a plane crash in the Andes must do what they need to do to survive...