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Debt collectors make Europe's bad loans pay again

Reuters  |  LONDON 

By Alasdair PalLONDON (Reuters) - When Heli Vesanto's Norwegian gym thought she had fallen a month behind on her membership fees, it did not contact her itself but called on one of Europe's largest debt collection companies instead."Of course you feel a bit of pain opening a letter like that," she said, referring to fears that her credit rating would be affected, making it harder for her to borrow.The overdue payment letter sent by Sweden's Intrum Justitia turned out to be a mistake by the gym - Vesanto had cancelled her membership - but it was also a window, for her, on an industry that has ...

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First Published: Wed, June 14 2017. 15:36 IST