Downturn hits debt collection companies

[fuzzybobble]

Hopefully, First Credit will be minus an employee today in regards to that Facebook post.

 

Especially in light of how self-serious and overly important these companies consider themselves. To disrespect such a company is illegal, you know?

 

Let's just say a link to it, sort of accidentally got emailed to several people in the company.

[F_DCAs]

Such a petty mean-spirited thing to do there, FB. Fancy completely messing up the plans of a call jockey like that.

 

I like it.

[angry cat]

by CreditToday February 2010:

 

Ken Maynard, chief executive, Cabot Financial

 

DEBT AND THE NEW DECADE

 

A new decade has opened, bringing with it hope that we have left the worst of the recession and banking crisis behind us and that there will be many new opportunities opening up.

The debt purchase sector is certainly a very different place than it was during the days of the overheated market of 2006/2007.

Prices for most debt have reduced by 50 per cent, reflecting not only that debt was overpriced previously but also that more customers are struggling to pay and those that do are paying smaller amounts.

The difficulties of the past two years are much in evidence, with the number of active debt buyers reduced from over 40 to less than 10 at the start of 2010.

Sellers are also uncertain that they will sell their debt with less capital around and so the volumes have been reduced by more that 50 per cent in the past 12 months. Most lenders need to reduce the burden of non performing debt on their balance sheet and so we might expect to see and increasing volume over the next two years.

As we emerge into this new period it is also appropriate that the debt purchase industry takes a fresh look at what it offers and in the way it operates.

 

"There have been a number of disclosures of poor collections practices by companies in the sector"...

 

...and also many instances on the customer side where customers have refused to pay their debt, citing Consumer Credit Act technicalities.

Now is the time for debt purchasers to enforce the very highest standards of operation in all aspects of their purchase and collections activity. They need to raise their profile and speak out more strongly to the regulators and legislators in order to ensure that their voice is heard and given the credence appropriate to the size and growing importance of the sector.

We all need to work together towards achieving a fairer balance in laws, regulations and operations. This will enable purchasers to work within a code of practice of the highest possible standard and will make borrowers aware that whilst they will always be treated fairly, they have an absolute responsibility to repay any money they have had use of without resorting to technicalities to avoid their debt...

[lickthewallfatboy]

they do talk some s*ite don't they?

[angry cat]

Couldn't finish typing;

didn't know whether to roll around on the floor laughing or,

to run into the loo and vomit!

[angry cat]

What is Uncle Ken' on?

[angry cat]

And, don't forget this:

Credit Today Awards 10

 

all entries must be submitted by 12 February 2010;

only four more days!

[fuzzybobble]

And, don't forget this:

Credit Today Awards 10

 

all entries must be submitted by 12 February 2010;

only four more days!

 

I hope they booked Michael Mcintyre for the half time entertainment. The last lot of DCA **** who booked him, he cancelled on them about an hour before.

 

Utmost respect for that one Michael M.

[fuzzybobble]

Uncle Ken dribbled....

 

We all need to work together towards achieving a fairer balance in laws, regulations and operations.

 

We'll stick to the rules and the law, and the DCA's can continue to break them.

 

A fair balance in laws, regulations, and operations. Would mean they would have to do as they were told, and stuff them in the crap financially further.

 

 

What Ken really means is, "Let's get the law and guidelines changed, so we have an unfair advantage."

 

See you in the Job Centre very soon Ken.

[fuzzybobble]

Another classic bit of Ken spin.............

 

will make borrowers aware that whilst they will always be treated fairly, they have an absolute responsibility to repay any money they have had use of without resorting to technicalities to avoid their debt...

 

Those technicalities being English Law and backed up by case law in the high court Ken?

 

 

The CCA 1974 was made to prevent consumers from being exploited and unfairly treated. The creditors cut corners with their paperwork, and are now rightfully paying for it because they didn't follow the letter of the law. Now the ordinary people are learning to understand thos laws and use their legal rights, and suddenly it's so unfair and tossers like Uncle Ken go crying to the Government and the OFT.

[woolfysmith]

by CreditToday February 2010:

 

Ken Maynard, chief executive, Cabot Financial

 

DEBT AND THE NEW DECADE

 

A new decade has opened, bringing with it hope that we have left the worst of the recession and banking crisis behind us and that there will be many new opportunities opening up.

The debt purchase sector is certainly a very different place than it was during the days of the overheated market of 2006/2007.

Prices for most debt have reduced by 50 per cent, reflecting not only that debt was overpriced previously but also that more customers are struggling to pay and those that do are paying smaller amounts.

The difficulties of the past two years are much in evidence, with the number of active debt buyers reduced from over 40 to less than 10 at the start of 2010.

Sellers are also uncertain that they will sell their debt with less capital around and so the volumes have been reduced by more that 50 per cent in the past 12 months. Most lenders need to reduce the burden of non performing debt on their balance sheet and so we might expect to see and increasing volume over the next two years.

As we emerge into this new period it is also appropriate that the debt purchase industry takes a fresh look at what it offers and in the way it operates.

 

"There have been a number of disclosures of poor collections practices by companies in the sector"...

 

Looking at is photo do you think he should be on the

 

SLIM FAST TRACK diet

[angry cat]

Maybe, he didn't stick to his new years resolution?

Or, maybe he did!

[fuzzybobble]

He's a fat git because he's full of s**t and it leaks out when there is a journalist within 6ft of him.

[F_DCAs]

There's a Youtube clip from Fox TV, which has a great put-down from Christopher Hitchens in reference to the very recently deceased Reverend Jerry Falwell - 'If you gave Falwell an enema, he could be buried in a matchbox'.

 

Give Ken Maynard one, and he'd disappear without trace.

[fuzzybobble]

:D:D Love it.

[sillygirl1]

Maybe they have replaced the unlovely supervisor who wanted to know my licence no when I informed her I was recording the call - this was before we attempted security questions.

[fuzzybobble]

Maybe they have replaced the unlovely supervisor who wanted to know my licence no when I informed her I was recording the call - this was before we attempted security questions.

 

That will be the licence number on the barcode, on the back of your christmas card will it?

[sosumi]

Re: "Downturn hits the credit industry..."

 

It's sad, so

terrible, awful sad...

...

...

 

Now,

Who's got the PARTY balloons! :p:p

[cerberusalert]

 

Oh dear, how sad, never mind. ...