Kruk S.A.

During the first three quarters of 2010, seven debt collection companies received debt collection orders or purchased debts worth PLN 7,262,000,000,  up by 40 % on the previous year. KRUK was again ranked as No. 1 in the national ranking published on 26 October by the “Rzeczpospolita” daily.
 
The debts referred for collection to debt collection companies are mainly consumer debts whose number is around four times bigger than the number of business debts. Another tendency is the growing number of cases in which it is difficult to contact the debtor using the contact details provided by the creditor. For many collection companies the above is a significant obstacle for effective collection where the establishment of contact with the debtor is one of the key success factors.
 
The prevailing majority of receivables reaching debt collectors come from companies operating on the consumer finance market, mainly from banks.
 
To improve credit quality, banks made their lending policies more stringent already in 2009. “We have been hearing from our customers that the quality of the credit portfolio has been slowly improving. Therefore, we may expect a slower rate of growth of the number of orders in the future. The above does not mean however that debt collectors will become unemployed. We are expecting an increase in the value of debts offered for sale and the number may be as much as PLN 5–6 billion,” says Piotr Krupa, President of the Board of KRUK SA.