Old news but it may apply to some one

[IIIUMINATI]

Intrum debtors may get refunds

 

Mark Milner

Wednesday November 12, 2003

The Guardian

British debtors who paid money to Intrum Justitia, Europe's leading debt collection agency, could be in line to get money back, it emerged yesterday.

The group, which has been investigating a £6m black hole in its accounts, said it was setting aside another £8m against what it calls "unallocated payments" at its English subsidiary - money that was paid to it but not passed on to a creditor. The company, which stressed that only its English subsidiary was affected, said that where "unallocated payments" had arisen because of organisational weaknesses "we have not been able to return money to the correct debtors".

 

Intrum was not yet able to say how many debtors would be affected or how it would repay the money. "This is new to us; we have not yet made the practical arrangements," a spokesman added.

 

News of the black hole came to light in July, prompting Intrum to launch an investigation which involved 100 people and cost just under £4m. Intrum said that, while part of the problem was high staff turnover, lack of management and poor accounting methods, it had also found evidence of "deliberate misstatement".

It said it had not identified who had been responsible. "We have not been able to establish who did what at what time." But it said investigations would continue and it would "carefully consider what actions to take in the light of the advice it receives".