Debt Buyers to Receive Full Credit Data on Customers

11 July 2007

The Steering Committee on Reciprocity (SCOR) has agreed to amend the Principles of Reciprocity (PoR), following a proposal from the Debt Buyers and Sellers Group (DBSG). The move will allow credit reference agencies to provide debt buyers with a full credit report for their customers.

SCOR made clear that the decision does not mean data can be used for marketing purposes, such as targeting a customer for a new product, or in the purchase decision making process, rather the aim is to help with the debt recovery process or for the prevention of more serious arrears.

Credit referencing agency Callcredit, welcomes the move: “We have supported this proposal from the beginning, and are pleased that SCOR has taken this positive step in the right direction. The decision to allow us to share our data with debt buyers in this way can only be of benefit to the industry for the future, and will also help us to help out our customers,” says Alan Golob, Head of Collections and Recoveries, at Callcredit.

About Callcredit:

Callcredit (www.callcredit.co.uk) is the UK's most innovative, state-of-the art credit reference agency, with an extensive range of information and value added services for businesses and individuals.
Callcredit has harnessed state-of-the-art information technology with an unrivalled knowledge of the industry's needs to develop a range of innovative information solutions. Solutions that are enabling major lenders and a host of other blue chip companies to address regulatory requirements, make better credit decisions, target new customers more effectively and manage existing customers more profitably.
Callcredit forms part of the Skipton Information Group, together with database management company EuroDirect and market analysis firm GMAP Consulting.

For further press information contact: Jane Fordham, Katie Moore or Sophie Smith at the Callcredit Press Office on 0207 067 0600 or callcreditpr@golinharris.com

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