Subject: A Water Company ranked in the top five in the UK with an objective to collect £1.5m by the end of 2008.

Segmentation of portfolio:

• Un-enforced judgments – balance =>£600.00
• Un-enforced judgments – balance <=£599.99
• Previously enforced judgments (Attachment of Earnings) – balance =>£600.00
• Previously enforced judgments (Attachment of Earnings) – balance <=£599.99

Strategy:

For A &C:

All accounts to be screened through Land Registry records to identify Homeowners

Homeowner cases

• Title registry inspected with a view to obtaining a Charging Order
• Charging Order enforced by way of the Incasso LLP Order for Sale initiative on cases where the final charge balance exceeds £1,000.00

Non-homeowner cases

• Writ of Fifa obtained and details forwarded to one of our panel High Court Enforcement officers (HCEO).
• HCEO will negotiate with debtor to recover monies / goods to cover the debt balance / obtain details such as employment details, benefit status (NI no. where possible) and general lifestyle of debtor
• Report from HCEO used to assess further action.
• If necessary, carry out employment search with a view to enforcing through attachment of earnings.

For B & D:

Employment search conducted

• Successful employment search results are channelled towards the Attachment of Earnings enforcement method
• Unsuccessful employment search results are either enforced by way of a County Court Bailiff or returned.
• Where the debtor is still residing at the liability address, a further judgment may be obtained with a view to referring to Incasso at a later date.

N.B. Following a recent review, the initiative may be amended to incorporate a lower threshold for Charging Order enforcement, which will mean security of all Homeowner cases.

Progress:

We are on target to exceed the client’s objectives by utilising the above process and, indeed, this strategy is now being introduced to other Utility companies.

The Incasso LLP Utilities strategy has been specifically developed to maximise returns on large volume debt portfolios and will consistently out-perform in-house provisions on this profile of debt.

We are expected to surpass our client’s objective of recovering £1.5m from this portfolio and have set a target of exceeding this mark by 100% over the next 12 months.