DCAs commission down

[Pinky69]

There is an article in Business Credit News UK today that DCAs commission from banks for collections is down. In my view the banks know that most small debts will have to be written off in this climate and they aren't going to spend much in collecting. On the debt buying side, the banks are not selling for the prices the debt buyers expect so there is stalemate in buying and selling and has been for the last 2 years. Buyers expect to collect on about 25% of debts they purchase and they are only collecting on about 10%. Not a good time for them I'm glad to say and it doesn't look as if things are going to pick up for a long time, in spite of the DCAs wishful thinking. Now is the time to get F&F settlements for a song.

[The Debt Star]

Re: DCAs commission down

Good post Pinky. Thanks. Need some good news.

[Caspar]

Re: DCAs commission down

Ah! I feel SO sorry for them. Hope they don't get into debt - might get a DCA on their back!

[Angry Cat]

Re: DCAs commission down

My heart bleeds for them; NOT!