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OFT issues data accuracy warning 10 November 2011


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http://www.credittoday.co.uk/article/11217/online-news/oft-issues-data-accuracy-warning ----------- like this bit ------------ When asked if the ‘no win no fee’ model of debt collection is sustainable, Santander director of collections and recoveries Jaime Graham said a system where agencies earn 10% of everything they collect will not necessarily lead to the right outcomes for lenders. “We are going to have to revisit what the commercial model for debt collection because you can argue that incentives based on cash collected can drive [undesirable] behaviours.”CSA head of membership and compliance Claire Aynsley added that most collections agencies are now incentivising individual staff members through compliance as well as cash collected.
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