Spanish debt collectors thrive due to the global economic crisis

Spanish debt collectors thrive due to the global economic crisis
Oct 12, 2008 02:22
FRANKENSTEIN Points: Join Date: Nov 29, 2004 Status: offline	Source: Yahoo!. Spain is also suffering from the financial crisis. However, one company is making money due to the financial crisis, that is, a debt collection company whose staff wear tails and top hats. The company is called El Cobrador del Frac, which translates as debt collector in tails. It seems that the financial crisis has given this debt collector a big chance to make money. Compared with last year, the demand for their service has risen 40 percent. It is said that this company has decided to spread its 500 staff over the Spain. It even has an office in Portugal. As it said, the economic crisis has just begun so that they need to open more offices. Because of the financial crisis, Spain's economy is stagnant. The unemployment is as high as 11.3 percent and inflation is at nearly 5 percent. "The number of companies and private citizens that are in arrears on payments is the highest in 10 years, according to the Bank of Spain."

Oct 12, 2008 02:22

FRANKENSTEIN
Points:
Join Date: Nov 29, 2004
Status: offline

Source: Yahoo!.

Spain is also suffering from the financial crisis. However, one company is making money due to the financial crisis, that is, a debt collection company whose staff wear tails and top hats. The company is called El Cobrador del Frac, which translates as debt collector in tails.

It seems that the financial crisis has given this debt collector a big chance to make money. Compared with last year, the demand for their service has risen 40 percent. It is said that this company has decided to spread its 500 staff over the Spain. It even has an office in Portugal. As it said, the economic crisis has just begun so that they need to open more offices.

Because of the financial crisis, Spain's economy is stagnant. The unemployment is as high as 11.3 percent and inflation is at nearly 5 percent.

"The number of companies and private citizens that are in arrears on payments is the highest in 10 years, according to the Bank of Spain."

Oct 12, 2008 20:20	#1
JIMMYB Points: Join Date: Feb 7, 2007 Status: Offline	How do the staff of El Cobrador del Frac collect debt? By force?

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