UK Debt Purchaser Announces Record Year

Lowell Group, the fast-growing Leeds-based debt purchasing specialist, has had a record-breaking 2006.

The number of consumer accounts serviced by the Group now exceeds one and a half million with an asset value in excess of £1.4 billion (US$1.85 billion). Annual turnover increased by 124% to £27.1 million (US$35.8 million).

Chief executive officer James Cornell said: “We are delighted with these results and are particularly pleased that we have been able to achieve strong profit whilst experiencing such rapid growth. The Group has attracted some of the best people in the industry and has harnessed a great deal of experience, particularly in portfolio acquisition, pricing and recovery performance. The level of investment in the business has also ensured that we’ve been able to adopt best systems, practices and processes.

“Today there is a much more transparent working relationship between debt sellers and purchasers, something very much championed by Lowell. We work closely with our clients to achieve optimum recoveries and provide the best purchase price possible, acting in a consultative capacity to help them meet and exceed their objectives.”

Lowell Group has established strong ongoing relationships with many of the UK’s leading banks and finance houses. Its portfolios include loan, credit card, storecard, mail order, overdraft, retail bank and telecoms debt.

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