| www.1stcreditltd.com | ||||
| Sector | Financial Services | Location | London | |
| Acquired | 2004 | Deal size | €104m | |
1st Credit is a leading UK debt purchase and collection business that focuses on the acquisition and collection of distressed debt portfolios from credit providers such as banks, credit card companies and utilities.
The company has two distinct activities: it purchases non-performing debt from companies at a discount to face value and then uses its bespoke collection methodologies to recover outstanding debt from individual account holders. 1st Credit also collects unpaid debts on behalf of companies, typically being paid a fixed percentage commission from the debt it recovers.
