Indesser recovers £3 billion for taxpayers
Indesser reported today that it has recovered £3 billion of money for taxpayers since 2015. This represents a key milestone in the government’s debt recovery journey and comes as the amount of debt owed to government peaked at a record £64.5 billion immediately following the pandemic.
Indesser, which is part of TDX Group, offers the public sector a highly effective way to recover debt – money which is fed back into funding public services. Over 50 public sector organisations work with Indesser through Crown Commercial Service’s Debt Market Integrator (DMI) framework to achieve better debt recovery.
One of Indesser’s key values is to recover debt fairly for society. By combining advanced data analytics and highly trained staff, Indesser can agree personalised payment plans with each individual – giving them a safe way out of debt and making sure they never pay more than they can afford.
Phil McGilvray, Managing Director of TDX Group, an Equifax company, said: “It is a huge milestone to recover £3 billion for the government and comes at a crucial time when the government is investing in financial support to help households with rising energy prices and living costs. We recover taxpayers’ money which is used to fund essential public services and support. I’m proud to say that our partnership with the government and commitment to ethical debt collection means that we’re achieving better and better outcomes by providing high quality support to those who are in debt.
“Recovering debt in an effective, efficient and fair manner for government has never been more important. Together we save taxpayers valuable funds that would otherwise have been lost, whilst at the same time, we help businesses and people find the best way out of debt when they’re struggling to make ends meet.”
Patricio Remon, President for Europe at Equifax, said: “The £3 billion recovery milestone is evidence that Indesser continues to deliver exceptional value for taxpayers. That figure alone is enough to pay for the government’s plan to improve the energy efficiency of up to half a million homes and saving families hundreds of pounds on energy bills per year.
“Global geopolitical and economic events in the past three years have impacted the economic outlook and put pressure both on the public purse and households’ cost of living. In this context, we’re more committed than ever to continuing to improve debt recovery across the public sector for taxpayers and struggling households.”