LONDON, October 10 Thesis-Servicing
LONDON, October 10 /PRNewswire/ --
- Immediate Assumption of 450,000 Student Loan Accounts
LINK Financial ("LINK"), the leading European purchaser and servicer of
semi - and non-performing consumer receivables, has launched a new brand
dedicated to the administration of student loans. The creation of Thesis
Servicing is a response to the ever-growing demand for public and private
sector higher education funding. Thesis Servicing is a purpose-built,
proprietary operation designed to act as a centre of expertise for a wide
range of student loan servicing activities in the UK and across Continental
Europe.
Whilst LINK Financial has been involved in the student loans business in
an administrative function since 2006, the launch of Thesis Servicing
coincides with the assumption of full day-to-day operational responsibilities
and the transfer of 450,000 customers. From October 2008, Thesis Servicing
will administer a portfolio of student loans which was sold by the UK
Government in 1998 - as part of the first student loan sale to the private
sector - and is owned by Finance For Higher Education Limited (FFHE).
More information on the role of Thesis Servicing can be found on the
following website: http://www.thesis-servicing.co.uk.
Paul Burdell, CEO of LINK Financial, commented: "The launch of Thesis
Servicing adds to LINK's capability to manage large portfolios of performing
consumer accounts, however complex, which are in run-off and where investors
need a reliable and efficient outsourced servicer. We believe that this
proposition will become even more compelling as banks and consumer finance
issuers review the performance of certain product lines and the associated
internal costs of collecting them through to maturity."
Notes to the Editors
Thesis Servicing: Thesis Servicing - one of LINK Financial's trading
brands - is dedicated to the servicing of student loans in the public and
private sector in Europe, currently looking after 450,000 customers.
LINK Financial: LINK is one of Europe's leading purchasers and servicers
of semi- and non-performing consumer receivables. The Company has acquired
rights to $8.25bn of receivables, which represents more than 2 million
individual customers. LINK operates in over 20 countries and has servicing
operations in the UK, Spain, Italy, Germany and Ireland. Institutional
shareholders include HBoS, Morgan Stanley and Cheyne Capital Management.
For further information, please contact:
Paul Burdell / Lorenz Oesterreich
LINK Financial,
+44(0)20-7793-2670
Andrew Jaques /Nick Denton
Hogarth Partnership Limited,
+44(0)20-7357-9477
SOURCE LINK Financial
