New Collection Approach - Helping to Keep Homeowners Afloat

Cattell, Debby
April 2010
Credit Control;2010, Vol. 31 Issue 3/4, p90
Trade Publication
The article discusses the different approaches to cash collections from delinquent accounts which are adopted by financial institutions in Great Britain. The limitations of the approaches in securing positive outcomes as well as their incompatibility with the Financial Services Authority's (FSA) regulatory requirements and Treat Customers Fairly (TFC) framework are explained. It suggests that communication and building trust with borrowers from the outset is the key to new collection approach.


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