CCR-PUBLICSECTOR CCR-PS
The legal and enforcement profession is undergoing a period of considerable change. CCR brought together a group of experts to a round-table debate, sponsored by Equita, to discuss the future. They were: Wendy Miles, litigation executive, Barlow Robbins LLP (WM); Robert Thompson, partner, Brachers LLP (RT); Gareth Raisbeck, head of legal process and advocacy – dispute resolution, Brethertons LLP (GR); Chris Else, owner, Else Solicitors LLP (CE); Paula Swain, finance litigation and consumer credit partner, Lester Aldridge LLP (PS); Charles Wilson, managing director, Lovetts (CW); Frank Johnstone, partner, McClure Naismith (FJ); Frances Coulson, senior partner, head of insolvency and litigation, Moon Beever Solicitors (FC); Alistair Minchin, assistant manager, Moore Stephens (AM); Alan Hamblett, partner, Shakespeares Solicitors (AH); Richard Gwynne, director of debt recovery, Shoosmiths LLP (RG); Ryan Robinson, head of debt recovery services, Shulmans LLP (RR); Mark Taylor, partner, Wilkin Chapman LLP (MT); Sadak Miah, partner – commercial recoveries, Blake Lapthorn (SM); Alan Smith, operations director, Equita High Court Enforcement (AS); Paul Sharpe, sales and marketing director, Equita (PLS); Steve Jordan, director, Capita Debt and Legal Services (SJ)
LEGAL AND ENFORCEMENT: CHANGES FOR THE BETTER?
FJ: There have been significant changes in recent years driven, in part, by commercial requirements to work more creatively with clients, because clients’ needs are evolving and changing. But, undoubtedly, one of the key factors is the approach of the Financial Conduct Authority (FCA) and the different nature of the FCA’s supervisory regime from that of the Office of Fair Trading, which is driving a lot of client’s selection of legal collectors.
H
AH: The perceived value to our clients of a solicitor’s letter before action must not be under-estimated as part of the collections process, and to highlight that
ow have late stage collections and recoveries changed over the past period?
I would only refer to the bogus law firms that many lenders had created in order to send out such letters. Those lenders obviously felt that a letter from a solicitor could achieve more than they had managed to achieve up to that point through their own credit-control processes. So we clearly still have an important role to play for creditors if they attach so much importance to a letter from a law firm threatening court action.
RR: Access to credit is driving problems for a lot of people out there.
WM: If the legitimate short-term lenders are driven out of business, then it could drive people to the unregulated sector, which would be an entirely contradictory effect. In trying to protect vulnerable
consumers, if you do not give them access to credit, they can become desperate.
PLS: Changes in the availability of credit can have both positive and negative impacts. From the enforcement point of view, we do come across the loan sharks. We have recently been involved in a piece of work in Birmingham, and found that the result of there being less access to credit is that the growth of loan sharking is real.
SJ: I am certain that the FCA would say that they are not there to put payday loan companies out of business – they are there to make them better and more effective for their customers. So I am sure that the industry will end
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Left-right: Charles Wilson; Paula Swain; Steve Jordan; Robert Thompson; Alan Hamblett June 2015
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