Wescot – Collections specialists

Being one of the leading providers of the management of collections, recovery and impaired portfolios, Wescot are there to provide you with all the help you need all across the UK.

Wescot consistently have control of the management of at least £4.5 billion worth of assets that they are looking after on behalf of their clients at any given time. For the year to February 2013, Wescot over the course of 3 million accounts, returned an incredible £240 million worth of capital back to its clients.

Given the nature of the industry that Wescot operate in, it is always susceptible to change and is no different for the sector. There are likely to be several changes in the near future that are a result of certain factors such as the below:

Wescot note that at present, there are considerable economic pressures on consumers, and this is likely to continue in the short term, as the average disposable weekly income continues to slump and may hit its mark of £139 per week that was made in 2008.

There are also considerable changes taking place regarding the regulation of this industry, Wescot advise that previously the regulatory body for the industry was the OFT, but this is no longer the case, as responsibility for monitoring this sector has fallen into the hands of the FCA. It is expected that the FCA taking over will be beneficial for the sector as a whole, as it will ensure for Wescot and many other firms that fair results are produced due to the more transparent expectations that will be set out.

As with almost any change, there are often challenges abound, but the team at Wescot are fully aware of this and have a clear vision of the priorities that have already been implemented and that will be in the near future. The core vision is to ensure that Wescot continue to be a highly respected supplier of client debt portfolio services, all whilst maintaining the essential Wescot values of absolute passion in the service they provide whilst remaining entirely transparent and ethical from the start to end of their service. By upholding these values and continuing to provide top notch service for their many clients, the future bodes very well indeed for Wescot.