Cabot Credit Management Strengthens its Awareness of Domestic and Economic Abuse

12 June 2019 – Cabot Credit Management, one of the largest credit management service providers in Europe, is working closely with The Domestic and Economic Abuse Project (DEAP) set up by Money Advice Plus and Surviving Economic Abuse charities, to strengthen its understanding of its customers who are victims of domestic and economic abuse.

DEAP aims to build the capacity of organisations that are in contact with victim-survivors to respond effectively. It replicates – at the local level - work undertaken by Money Advice Plus to integrate the physical safety and support needs of domestic abuse victim-survivors when giving debt/money advice.

A key team from Cabot attended a course run by DEAP covering all aspects of domestic and economic abuse and it highlighted what signs to look for when you are dealing with a customer affected in this way. This knowledge was then cascaded through the business through various means such as training alerts and seminars.

Derek Usher, Managing Director, UK Debt Purchase, Cabot Financial, said: “We are always looking at ways to continually improve and enhance the way we work with our customers to ensure they are treated fairly. This project has been a real success and enabled our employees to further understand the difficult circumstances that some of our customers are experiencing.

Karen Perrier, Client Service Manager, Money Advice Plus and Nicola Sharp-Jeffs, Director, Surviving Economic Abuse said: "Cabot Credit Management is in a unique position to identify and support victims of domestic and economic abuse through its work. We are delighted that it plans to draw on the training we provided via the Domestic and Economic Project to improve the way it is able to respond to customers. The team was really receptive to the knowledge we shared and we look forward to working with Cabot going forward."

Surviving Economic Abuse defines economic abuse as involving behaviours (control, exploitation and sabotage) that interfere with a partner’s ability to acquire, use and maintain economic resources. In the context of domestic violence, it commonly takes place alongside physical, sexual and psychological abuse.

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For further information, please contact:

Becky Cimelli PR Manager, Cabot Credit Management
Tel: +44 (0) 7780 495082
Email: [email protected]
Website: www.cabotcm.com

Note to editors

Cabot Credit Management (www.cabotcm.com) is one of the largest credit management services providers in Europe and the market leader in the UK and Ireland, based on expected future gross cash collections. Cabot provides a range of credit management services across a broad client base that includes some of the largest credit providers in Europe. These services include debt servicing offerings such as early stage collections, business process outsourcing, contingent collections, trace services and litigation activities Cabot has credit management experience across a range of both credit providers (including consumer finance, telecommunications companies, retailers, utilities companies and government agencies) and asset classes (including secured consumer debt, small and medium-sized enterprise debt, and high-value accounts).

Between Cabot’s inception in 1998 to 31 March 2019, it has invested a combined total of c£2.7 billion in the acquisition of over £26.8 billion in face value of purchased loan portfolios and has received £3.2 billion in cumulative collections from purchased loan portfolios. As at 31 March 2019, Cabot’s 120-month estimated remaining collections was £2.7 billion, and Cabot’s 180-month estimated remaining collections was £3.1 billion.

With 21 years of debt purchase and debt servicing experience, Cabot was one of the first companies to engage in the credit management services market in the United Kingdom. In March 2016, Cabot became the first large credit management service company in the United Kingdom to be authorised by the FCA, and in May 2017 Cabot became the first credit management service company in Ireland to be authorised by the Central Bank of Ireland.

Customer service and regulatory compliance are at the core of Cabot’s business and culture and are implemented through its collections strategy. Cabot seeks to treat its customers 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 Cabot believes that it has one of the lowest rates of complaints in the debt collection industry referred to the UK Financial Ombudsman Service. Cabot has won numerous industry accolades, including 2018 Credit Excellence awards for Best Use of Technology and Best Law Firm, 2018 Utilities and Telecoms Awards for Best Outsourced Call Centre Operation, 2017 UK Customer Satisfaction Award from the Institute of Customer Service, Credit Excellence Awards 2016 for Compliance and the Credit Today Award 2016 for Treating Customers Fairly.