Press Release

Interest in debt recovery careers on the rise, says Credit Style

May 2021

Credit Style, one of the UK’s leading players in debt recovery, has maintained an unbroken record of growth over the past five years with an overall increase in turnover of 163%. This has been achieved despite the ongoing challenges of COVID-19 and consequently, the business is anticipating a continued increase in interest in debt recovery careers this year.

Based in Sheffield, Credit Style is a credit management and debt recovery service designed to flexibly represent bespoke client needs from any business or sector. The company is now encouraging other businesses and jobseekers to take note of their recent findings and ensure they are also prepared for a potential boom in competitive applications.

Debt recovery can sometimes be viewed as an unwanted necessity, but it is a critical service that keeps cash flowing. Without it, the economy would find itself in a troubling situation, especially at present as the ongoing national recovery relies on maintaining solid economic foundations. Sectors such as retail, leisure, hospitality and entertainment are seemingly making a comeback nationally, but many people who work in the worst affected industries have faced incredible uncertainty over the past year. It is not unreasonable to think that many will continue to consider making a career change. The need to recruit for debt recovery professionals is also greater than ever as many clients across all types of sectors look for help in recovering much needed funds that they are owed, resulting in common ground between customers, applicants and employers.  

Many young people who are deciding on a career to embark on prioritise employment opportunities with transferable skills that offer a level of freedom and flexibility. As the summer months approach, school leavers and apprenticeship seekers will be joining a highly competitive job market. The stable environment, various types of roles and potential for career success in debt collection will be an attractive proposition and lots of debt recovery companies can point to their performance during the coronavirus pandemic as evidence of what they can provide above other potential career routes.

At Credit Style, only two people were furloughed out of nearly 100 members of staff and this was only implemented in those individual cases because it represented a better solution to their circumstances. As much of the working world begins adjusting to the concept of flexible working, employees in debt recovery are already well-versed in this concept and are able to continue achieving in their jobs at optimal level, regardless of when and where they may conduct their activities.

Credit Style recently recruited several new members of staff such as over the phone collectors and paralegals, including three apprentices. One of those apprentices is Shaun Daley, who is working towards a Level 3 certificate in Law aims to become a qualified Solicitor. Shaun, said, “I was previously working towards a business admin qualification at a solicitor's firm but did not feel I was getting the experience I needed to reach my goals. Joining a Debt Recovery firm instead might not seem the obvious route, but doing so has actually given me much more hands on experience of working amongst a legal team. You get the same opportunity to join a legal department, but instead of answering phones about any queries, I am dealing with more relevant cases that I can build my future career on.  I have only been here for a month but I have learned so much about case management systems, processes and procedures. Earning while you learn is great but it more the experience that is invaluable; doing a job for real instead of learning the theory behind it. There is still a misconception with some people that apprenticeships are not designed for top job titles, but more and more people, myself included, are realising that is not the case.”

Working in debt recovery often provides flexibility and stability, but also encourages people to be ambitious which is both motivating and rewarding. Helping businesses recuperate funds and taking away a time-consuming but essential task allows businesses to focus on their own business priorities. At businesses like Credit Style, each employee is given genuine ownership over the accounts they support. Many debt recovery employers recognise that freedom to get on with the job is attractive to people and in-turn, the expertise they develop is used to benefit everyone involved.

Even before coronavirus was ever mentioned, workers from other sectors have successfully switched to new and rewarding careers in debt recovery. Common misconceptions may have previously prevented some people from applying, but more and more people are recognising the sector as highly rewarding, stable and a secure career choice with lots of opportunities for progression.

Samera Akhtar is a Telephone Negotiator at Credit Style and has worked for the company for the past 10 years. She said, “You need to be driven and goal orientated to succeed in debt recovery, but the freedom to work your way and the prospect of a long-term and supportive work environment is so appealing. I have always been encouraged to speak up if I need anything, including flexibility around maternity and taking lunch at odd-times, which is really important to some people right now.”