Intrum Justitia Enters Debt Collection Partnership with Experto Credite in the UK

European ARM firm Intrum Justitia announced Monday that it has entered an agreement with UK-based debt collection agency Experto Credite regarding the transfer of Intrum Justitia’s credit management operations. Intrum Justitia will remain owners of the existing portfolios of receivables while staff, premises, and all collection activities are to be transferred to Experto Credite.

Experto Credite is a leading provider of debt management services in the UK with expertise in areas such as financial products, telecom, debt purchase and outsourcing solutions. The company was established in 1997 and employs around 100 people.

“Experto Credite has been in the UK market for nearly 15 years with an excellent track record when it comes to offering and providing credit management services, including debt collection and purchased debt solutions. I am glad we were able to sign this agreement as it provides us with great development opportunities and it also ensures continued employment for our staff in Liverpool. The partnership will improve our operations efficiency and provide us with new competencies that make us more competitive as an investor in Purchased Debt,” says Pascal Labrue, Regional Managing Director for Western Europe.

The new agreement implies Experto Credite assuming responsibility for all staff and premises in Liverpool with effect from 1 September 2011. Intrum Justitia currently employs around 35 people at its UK office in Liverpool.  Experto Credite will enhance Intrum Justita’s current collection performance and support future acquisitions of debt portfolios in the UK.

“The UK is Europe’s largest purchased debt market and an important market in which we should maintain a presence. By transferring our credit management operations to a strong partner in the UK, we can focus our resources on the sourcing of new portfolios. This is a strategically important step for Intrum Justitia in the UK,” says Lars Wollung, CEO and President of Intrum Justitia.