Collection Agencies in Europe Drastically Increasing Workforce

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00021454-collection-agencies-in-europe-drastically/

By Paul Farrow, The Telegraph

The numbers of workers at leading debt collection agencies in Europe have been increased by over a third in a bid to cope with the worsening personal debt crisis.

Cabot Financial, which collects bad debts on behalf of HBOS, MBNA, Royal Bank of Scotland and Citigroup, has increased its workforce by 25 per cent over the past year, from 240 to nearly 300, and expects to recruit a further 100 this year.

BCW Group, another leading collection agency, now has 840 staff compared with 630 a year ago – a rise of more than 33 per cent. Intrum Justitia said the number of cases it has handled had risen by 20 per cent year on year.

For this complete story, please visit Debt agencies hire more staff as crisis deepens.