News Article

Debt Collection

STA International’s European collections grow by 22% in 2012

By CreditMan Tuesday, July 3, 2012

Leading debt collection agency STA International reports a 22% growth in its European collections in the 12 months to June 2012. Five of the top ten countries STA collected from are the so-called PIIGS of Portugal, Ireland, Italy, Greece and Spain, with Iraq and the USA being the only non-European markets to feature in the top ten.

Colin Thomas, managing director, explains: “Like every debt collection agency (DCA) we are a reflection of client demands where, at present, the biggest collection challenges are in the troubled European market. Having collected from 138 different countries in the past 12 months, our European collections (excluding the UK) represented 72% of all international collections, up 22% on the prior year.”

Of the international collections made by STA, 67% were made by their foreign national collectors in the Maidstone HQ, with the balance collected by their overseas offices and agents. Colin Thomas adds: “The cost of recovery by our overseas offices or agents is much higher, so collection from Maidstone means a significant cost saving for our clients.”

Demand for STAs international collections came from clients in over 200 different industry sectors with the most money collected for clients in publishing; law firms; specialist building; clothing and accessories; manufacturing industrial; insurance; training; petrol & oil and food & drink.