Debt Buyers to Receive Full Credit Data on Customers
Callcredit welcomes ratification of CSA/DBSG Proposal
The Steering Committee on Reciprocity (SCOR) has agreed to amend the Principles of Reciprocity (PoR), following a proposal from the Debt Buyers and Sellers Group (DBSG). The move will allow credit reference agencies to provide debt buyers with a full credit report for their customers.
SCOR made clear that the decision does not mean data can be used for marketing purposes, such as targeting a customer for a new product, or in the purchase decision making process, rather the aim is to help with the debt recovery process or for the prevention of more serious arrears.
Credit referencing agency Callcredit, welcomes the move:
"We have supported this proposal from the beginning, and are pleased that SCOR has taken this positive step in the right direction. The decision to allow us to share our data with debt buyers in this way can only be of benefit to the industry for the future, and will also help us to help out our customers,'
Alan Golob, Head of Collections and Recoveries, at Callcredit.