Credit Link Account Recovery Solutions sold to JCIA

Leading US consumer debt buyer JCIA Holdings LLC (Jefferson Capital), has acquired Creditlink Account Recovery Solutions Ltd (CARS), a specialist UK debt collection provider based in Basingstoke, Hampshire. Initium advised the shareholders of CARS on the transaction.

CARS was formed in 2002 and is an experienced contingency servicer of consumer loans, credit cards, retail finance, telecommunications and insurance debt. The business operates an ethical and compliant approach to debt collection, committing to the very highest levels of respect and by working closely with customers who have fallen into financial difficulties.

CARS offers a full-service capability ranging from full outsourcing, prime, second placement and tertiary through to trace-and-collect.

JCIA is an analytically driven purchaser and servicer of consumer charged-off and bankruptcy accounts. Headquartered in St. Cloud, Minnesota, the business has additional offices in Minneapolis, Denver, London, Canada and Toronto, alongside its technologically advanced Basingstoke operations.