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.