Pioneers in the debt industry
Polonius purchase debt books from credit companies, these include books of customers who are in managed debt solutions, such as DMPs and IVAs.
Unsecured debt levels across the UK have increased significantly, with people taking out credit for a wide range of reasons. Having active customer accounts, which have fallen into default and being paid back as part of managed arrangements can mean money is tied-up for potentially long periods of time which may affect short-term profits.
We purchase these customer accounts, which can provide capital to re-lend to existing and new customers or alleviate any cash flow issues. Our team will then continue to manage these accounts.
Our policy is not to enforce the debts in the County Courts or worsen customers’ financial situations by adding interest and charges, at the point of purchase Polonius will in fact freeze any interest and charges.
We are authorised and regulated by the Financial Conduct Authority and treating customers fairly is at the heart of our business and everything we do. We comply and adhere to the Credit Services Association Code of Practice, which aims to promote best practice in debt collection.