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CCR2 Asset and Motor Finance


If you always do what you have always done…


Sometimes, a fresh approach to a problem can reap rewards, and this is certainly true in asset recovery


David Lynch Client services director – civil and business, Marston (Holdings) David.Lynch @marstongroup.co.uk


I think that it is undoubtedly fair to say that we are living at a time of intense uncertainty, particularly leading up to the big day for Brexit of 29 March. As I write this, the UK Parliament has


tasked Prime Minister Theresa May with going back Brussels in order to renegotiate the famous ‘backstop’. This move has been met with dirision on the continent. Dutch newspaper De Volkskrant eloquently


expressed the exasperation of many in a rather pointed editorial: “The MPs are unable to agree about much and were making more noise than the proponents and opponents of Brexit who were protesting outside. The Scots do not want a Brexit at all, Labour wants to keep one leg in the EU, the Brexiteers want to go into battle against the EU like Don Quixote, and the Northern Irish unionists want to drag as much money out of London as possible.” It all seems like a case of a huge level of


confusion, and, as Donald Rumsfeld might once have said: the only known is our current unknowns.


So, here in the credit, collections, and


asset-recovery sector, is now the time to focus on a different way, of approaching the same problems?


If the UK economy takes a turn for the worst, or even if it balances out, this uncertainty gives us an opportunity to review the recovery of assets. After all, securitising them and recovering them in a market that is levelling out is even more important than ever


An opportunity If the UK economy takes a turn for the worst, or even if it balances out, this uncertainty gives us an opportunity to review the recovery of assets. After all, securitising them and recovering them in a market that is levelling out is even more important than ever. So would using data allowing lenders


to proactively locate assets be of interest? Or taking a proactive approach to the repossession process rather than a reactive one? I would say that yes, these would both be beneficial strategies. Understanding asset location has never


been more important, with personal debt hitting £1.576tr. Figures show that asset finance is growing, and it is already making a significant contribution to the overall number. So, with the UK on the brink of leaving


one of our largest trading partners, a robust and far reaching asset-recovery strategy is paramount for creditors within the motor and asset-finance sector.


Automatic number-plate recognition Current process tend to be reactive and can be linked to address accuracy, in some instances with a customer who client has lost touch with. Such an absence of important data will clearly have repercussions when it comes to


28 www.CCRMagazine.com February 2019


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