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Mercantile Recovery Solutions & MMF


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Hi Guys

 

While this is old news, I haven't seen anything which suggests we might have been aware of this;

 

MMF purchase Mercantile Recovery Solutions PDF Print

Tuesday, 12 February 2013

Motormile Finance has purchased Kilmarnock-based debt collection agency Mercantile Recovery Solutions in a deal finalised on 18th January 2013.

 

The resulting deal saw Motormile, the Leeds-based debt buyer purchase most of MRS’ debt portfolios as assets, after expressing interest in the portfolios it owned, which comprised of payday loan debts. The remaining books and the company were bought in a separate transaction, as some of the portfolios could not be sold immediately without creditor consent.

 

Barnaby Page, owner and Director of Motormile Finance comments “When we heard MRS was intending to close its doors, we expressed a strong interest in purchasing its owned debt book, in performing preliminary due diligence, it turned out not all debt books could immediately be disposed of outside MRS. As such we took the opportunity to purchase the company as an entity with the view of developing it as MMF’s outsource placement sister company. Michelle Moore Motormiles’s current director of outsource services and Board Director of the CSA, will be appointed to the board of Directors of MRS and will lead the development of MRS into a vehicle to service MMF’s outsourcing requirements.”

 

MRS was launched in July 2012 by Stephanie Fraser and Rob Sands, Rob Sands resigned from MRS in October 2012. Motormile hired Rob as Head of Compliance in November 2012.

 

Stephanie Fraser issued redundancy notices to all 20 Kilmarnock staff prior to selling the firm. Stephanie Fraser has resigned as the last remaining director of MRS following completion of the Motormile deal. She remains on a consultancy role for Motormile 1 day a week.

 

Seems MMF Owns more than themselves

 

We could do with some help from you.

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

**Fko-Filee**

Receptaculum Ignis

 

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Didnt MRS only chase unenforceable debts? Same as scotcall does?

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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