PR - New President Confirmed at UK's Debt Collection Association

 
Najib Nathoo was confirmed Monday as the new president of The Credit Services Association (CSA), the body representing the United Kingdom’s debt collection industry. He was elected following the CSA’s Annual General Meeting in September. Najib succeeds Godfrey Lancashire who stands down after successfully completing his two-year term of office.

“The industry has come a long way in the last two years under Godfrey’s leadership,” Najib says, “and there is still much to be done. Clarity, consistency and collaboration will be the watchwords of the collections industry generally, and the CSA specifically, as we enter a new period of challenge and change.
 
“We need to have clarity in our purpose and our direction, to be regarded as the strong, professional, forward-thinking voice of the industry by all of our members, our customers, politicians, regulators, the media and other influencers. We need to have consistency in our business standards and conduct (as well as in the quality and skills of our people), consistency in our communications and market position, and consistency in the speed and manner with which we respond to emerging events.
 
“And we need to have collaboration with all relevant parties, because in a time of increased uncertainty, pressure and sensitivity, it is more sensible to be working together to better understand each other’s challenges and find a way forward to achieving a common goal.”

Najib’s appointment comes at a time of major progress within the industry towards greater representation within government, and the launch of the first ever debt manifesto calling for changes in the law that currently focus too much on the rights of the consumer, and not enough on their duties to fulfill their financial obligations.

It is also challenging the government to tackle the issue of ‘information sharing’ – the biggest problem impacting the recovery of debt being the lack of rightful access to information about debtors who have wilfully absconded or disappeared so as to evade their debt obligations.
 
“Specifically, we believe there should be a legal requirement for individuals to register an address with their creditors, and inform creditors if they move,” Najib says. “This would, practically overnight, protect the innocent from the incidences of ‘mistraces’ that have been allowed to overshadow the real issue of certain debtors committing deliberate fraud or evasion.”

Much of Najib’s earlier business life was spent with GE Capital in various board appointments in Risk Management, M&A, Finance and Marketing. His career includes working both in the UK and across continental Europe, as well as Japan and the Far East. More recently, he launched 1st Credit, a debt purchase and outsourced collections business, assuming responsibility as one of three partners for all Finance, Risk and Commercial activities.

He was elected to the CSA Board in 2003.