A leader in financial services debt purchase in the UK
Cabot Financial, which was founded in 1998 and now forms part of Cabot Credit Management, is the largest debt purchase company in the UK and is fully authorised by the FCA. Customer service and regulatory compliance are at the core of Cabot’s business and culture and are implemented through its collections strategy. The business currently has around 7 million customers , and seeks to treat each customer fairly and offer affordable payment solutions, often through long-term payment plans. Cabot has customer satisfaction scores in excess of all UK banking and building society benchmarks and many leading high street banks, and believes that it has one of the lowest rates of complaints in the debt collection industry referred to the UK Financial Ombudsman Service.
Further information
The company is a founder member of the UK Debt Buyers & Sellers Group and a leading player in the Credit Services Association and the Consumer Credit Trade Association. In addition, Cabot Financial is a member of CAIS, Insight and Share, the credit bureaux closed user groups provided by Experian, Equifax and CallCredit respectively.
What is Debt Sale?
Debt Sale is a form of asset sale. Over the last 20 years it has become an increasingly popular strategy for a whole range of organizations wanting to improve cashflow and reduce balance sheet liabilities. It has become an integrated part of the credit management lifecycle cycle for almost all major UK businesses that provide credit as part of their business. A debt sale can take the shape of a one off sale, or a more regular arrangement; it is a flexible process mutually agreed between seller and purchaser.
The Benefits
- Gain value for assets whether performing or non-performing
- Significantly reduce overheads and fixed costs
- Reduce capital adequacy requirements on your balance sheet
- Market leading customer experience and customer journey
- Improve cash flow and benefit the P&L
As the market leader in consumer debt purchase in the UK, we can support you in finding a solution for your performing and non-performing asset. Contact us in confidence at [email protected].
Purchase Process
Although the process can be flexible, the steps are essentially very simple and straightforward, taking on average six weeks from start to completion of sale. After signing a confidential agreement/data processing agreement, typically the steps are:
Step 1 - Initial data file is provided to purchaser
Step 2 - Indicative price is discussed with the seller
Step 3 - On-site due diligence with the seller
Step 4 - Binding price is discussed with the seller
Step 5 - Contracts are signed and funds are transferred
Suzanne Barry
Head of Client Partnerships
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