Government to use joint venture to collect unrecovered debt
22 December 2014
A new joint venture will now be used to target debts owing to six Government organisations, including those most relevant to employers and employees.
The Government announcement confirms that “a new company - Integrated Debt Services Limited - jointly owned by the government and TDX Group, an Equifax company, will provide a single point of access to a wide range of debt management and collection services for a number of government departments and the wider public sector in 2015.
Debt owed to the government, which stands at some £22.6 billion, originates from many sources including unpaid fees, taxes, fines and loans, ineligible benefits or grants and unrecovered costs from court cases.
The government has reviewed how it collects debt and today a new ambitious approach has been launched. The new company will use a range of proven and effective debt management services to support debt recovery with a focus on increasing returns.
The service will launch initially with 6 customers - HM Revenue & Customs, the Department for Work and Pensions, the Home Office, Student Loans Company, the Legal Aid Agency and the Driver and Vehicle Licensing Agency.