Good morning / 24.07.08
Corporate Solutions
Corporate Solutions
It is has been reported that around 5% of households in the UK are heavy credit users, around 20% are in financial difficulties and 24% of consumers have a personal loan of some description. In the situation of an economic downturn these individuals could have serious problems repaying existing agreements
While the latest indicators suggest that the economy in the UK continues to grow, a small downturn caused by an interest rates hike or a housing market crash could push many consumers into credit difficulties. The rise in UK indebtedness and the growing reliance and availability of credit means that lenders are now under increasing pressure to lend responsibly.
Callcredit has developed a suite of products which assist organisations in managing the risk of lending to people with high, or potentially high, levels of indebtedness
Are you making credit risk decisions on individual customers without an awareness of the debt that those customers hold elsewhere and the repayments they are making? Are you finding that some customers fall into arrears shortly after taking out new lending facilities with you? By using CallOI from Callcredit, you can protect your customers from becoming over-indebted, and protect your organisation from taking on debt which consumers may not be able to service. Developed in response to the Government's DTI report outlining the concerns about consumer over-indebtedness, CallOI is one of a suite of products from Callcredit which seeks to assist organisations in managing the risk of lending to people with high, or potentially high, levels of indebtedness. CallOI is a powerful tool which identifies relative indebtedness for each consumer in the UK
For further information about any of our Indebtedness Solutions, please call us on 0113 244 1555, or email us at sales@callcredit.co.uk
