Swedes’ debts to the Enforcement Authority (Kronofogden) continue to reach record levels. What responsibility do debt collection agencies have to improve the situation? A major one, says Pernilla Almström, CEO of coeo Inkasso.
A debt collection agency operating in Sweden is regulated by the Swedish Debt Recovery Act (Sw: Inkassolagen). The law gives agencies the right to submit a payment order application to the Enforcement Authority – including additional costs for the consumer.
If the Authority issues a verdict, it can make everyday transactions harder for the consumer, such as getting a phone subscription or taking out a loan.
“Just because we have the right to act in that way doesn’t mean we always should. For us, it’s more important to remain relevant,” says Pernilla Almström, and continues:
“The key is to clearly specify which purchase our claim concerns and what actions are required from the consumer. At the same time, we emphasize that we are here, ready to tailor an individual solution that gives the consumer the best possible chance to pay.”
coeo believes that the debt collection industry all together has great potential to influence the rising levels of indebtedness.
“I think we should ask ourselves if it’s reasonable that a purchase of just a few hundred kronor ends up at the Enforcement Authority. Have we as an industry really done our job well enough if that happens?” asks Pernilla Almström.
coeo has been present in Europe since 2010 and has grown rapidly since launching in Sweden in 2022. This has given the company an opportunity to rethink and challenge existing structures. Through innovative systems, modern technology, and efficient processes, coeo offers smooth, individualized solutions for consumers.
Aiming for win-win-win.
According to coeo, it’s about modernizing and creating conditions for a profitability model that doesn’t rely on quickly passing consumers on to the Enforcement Authority. To succeed, transparent and mutually beneficial agreements with clients matter most, while there is also significant potential for the industry to increase its own efficiency.
“The agreements we sign with our clients should give us the incentive to secure their revenue here and now, while also delivering the best possible customer experience. What we provide should be a win-win-win – for the client, the consumer, and us,” concludes Pernilla Almström.
Press contact:
Malin Gustafsson
Marketing Manager
0722364876
malin.gustafsson@coeo-inkasso.se