Credit Recovery Agency recovers decades old debt

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April 14, 2015 By Alusine Sesay

The Credit Recovery Agency at Lightfoot Boston Street, a renowned debt recovery agency, has recovered a twenty-two-year-old debt from the family of late Mohamed Koroma of Power Magazine, Kissy Mess Mess in the eastern part of Freetown.

Fatu Mansaray expressed her deep relief having paid the Le7.5 million debt on behalf of her late husband, thus thanking the agency for their professional intermediary role in recovering the debt.

The creditor, who declined to be named, noted that he was well satisfied with the work of the agency and prayed that they continue with what he described as a their professional and consistent approach in debt recovering.

Chief Executive Officer of the agency, Peter M. Kamara, told media men that his agency started full operations in 2014 and that they have recovered several debts, adding that the recovery of the Le7.5m debt was a landmark success because the loan was acquired in 1993.

He disclosed they did not only recover the debt but also made sure they preached peace among the parties involved, using persuasive skills.

He said his team is well trained in the recovery of debts, adding that their objective is to reduce the number of bad debts in the country using professional skills, and in a bid to curtail court matters relating to debt in the country.

Kamara noted that the agency is also involved in financial management, software development and cadastre planning system.