NZCity NewsLinks -

Finance

20 Apr 2024

Search

Kiwis warned of sexually-transmitted debt epidemic
Otago woman Louise* is still burned by the experience of being left in debt for years by a husband who spent far more than they could afford. He racked up thousands of dollars in consumer debt, which he left her to repay alone, while she lived on a benefit, trying to raise their children. They broke up and got back together three times. Each time the break-up left her with more of his debt to pay off. The first time, it was $7000, which she battled away to pay off at $10 a week. Then it was $2500 for a new computer, which she was sent to Baycorp over when she could not keep up with the repayments. The third time, she had cleared all the previous debt, only for him to splash out on new bikes for the kids. "It really was the last straw," she remembers. "Every time he came back, he bought something and I ended up paying."

Baycorp gets big tech boost
Debt evaders beware - recovery agency Baycorp says new technology coming onstream will boost its capability to claw back cash from wayward debtors.United States-based Encore Capital Group, which also operates in the debt collection...

US firm Encore Group Capital buys majority stake in Baycorp
A United States finance company has bought a controlling share of Australasian debt collection agency Baycorp.

Centrix links up with Baycorp to take on Veda
Competition is heating up in the credit-reporting industry as relative newcomer Centrix vows to take on the dominant market player Veda.

Baycorp wipes $3.5m in debt
Debt collection agency Baycorp has been forced to wipe out $3.5 million of outstanding debt after the Commerce Commission believed it had breached the Fair Trading Act.

Business debt falls
Debt collector Baycorp said the slight fall in business debt this year is a sign Kiwi companies are becoming smarter with their credit management.

Warehouse hires NZ Baycorp boss Donna Cooper to run finance unit
Warehouse Group, which is cutting costs by amalgamating its retail divisions, has hired Baycorp's New Zealand general manager Donna Cooper to run its financial services unit

Diana Clement: Simple steps can make you sleep easier
Is Baycorp on your back? Do you know you need to take charge of your KiwiSaver or shop around for insurance? Do you wonder how you're going to pay the school fees? Or do you simply want to get mortgage-free faster?I read that as...

Baycorp's Donna Cooper: Making sure the money comes in
When Donna Cooper considered taking the helm of Baycorp's New Zealand operation, she took a long hard look at herself.Would the role align with her values and could she feel proud of a move into debt collection?"What I learnt...

US firm Encore Capital Group buys majority stake in Baycorp
A United States finance company has bought a controlling share of Australasian debt collection agency Baycorp.

US firm buys up half share in Baycorp
Australasian debt collection agency Baycorp has new majority shareholder.The company announced today that Nasdaq-listed Encore Capital Group has agreed to purchase a 50.25 per cent stake in the business.Encore, which also operates...

Deal will not upset work with rival, Baycorp boss says
The boss of Baycorp says its decision to buy a stake in credit reporting firm Centrix will not affect its relationship with a rival agency.Baycorp yesterday told staff and stakeholders it had bought a 10 per cent stake in Centrix...

Collection company wipes $3.5m in debt
Debt collection agency Baycorp has been forced to reduce debtors' outstanding debt by $3.5 million and repay more than $46,000 in overpayments as part of a settlement reached with the Commerce Commission.