Fairness campaign in receivables management: EOS welcomes the planned Code of Conduct of the debt collection industry

EOS welcomes the planned Code of Conduct of the debt collection industry

Hamburg, April 18, 2019 – At their annual congress the member firms of the German Association of Debt Collection Companies (BDIU) voted by a large majority in favor of developing a binding Code of Conduct for the debt collection sector. EOS emphatically welcomes this decision and will actively support the further implementation process.

“We are absolutely delighted that as well as EOS, the majority of BDIU members have endorsed the planned Code of Conduct,” stresses Andreas Kropp, Member of the EOS Group's Board of Directors and responsible for the German market. “Through a Code of Conduct of this kind, the sector is sending a strong message to government, the business community and con-sumers. The objective of EOS is always to find a fair solution to disputes be-tween creditors and consumers, to pave the way to a debt-free future,” says Kropp.

In the next few months, the draft of the Code of Conduct adopted at the BDIU Congress is set to be discussed with all relevant stakeholder groups and should be adopted definitively in the coming year. It contains principles of conduct for all important issues arising from day-to-day collection practice –from communication with the defaulting payer, to the nature and extent of the costs and fees, to dealing with complaints and queries.

Another positive outcome of the congress was the election of Brigitte Zypries, formerly Federal Minister of Economic Affairs and Energy and Federal Minis-ter of Justice, to the office of Ombudswoman of the Association. In this role Zypries will be responsible for mediating between creditors and consumers as required.

About EOS in Germany

Established in 1974, EOS in Germany is now one of the leading providers of receivables management. Through its smart services, EOS offers its customers financial security in the business segments of fiduciary collection, debt purchase and mort-gage-backed receivables. EOS in Germany is part of the EOS Group, which employs around 7,000 people to support some 20,000 customers in 26 countries around the world. Its key target sectors are banking, utilities, real estate and e-commerce.

Andreas Kropp, Member of the Board of Directors, EOS Group