Law firm Shoosmiths has been named as preferred vendor by GMAC UK, multi-marque finance provider, for legal advice over recoveries.
The firm, which, became a limited liability partnership and joined the Credit Services Association as an affiliate member in summer 2012, will provide counsel on return of goods and recoveries shortfall operations for GMAC.
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Part of General Motors after reacquisition from Ally Financial, GMAC provides wholesale and retail finance across a range of marques, including Vauxhall, Chevrolet, MG and SsangYong.
At the end of September, Peak Collections announced it had agreed a shortfall recovery contract with the lender.
Strength and size
Melanie Chell, partner and national head of asset finance at Shoosmiths, said the company was "delighted" with the agreement, which would "strengthen our position" in the financial services sector.
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By GlobalDataChell’s team is part of the Recoveries Services Group (RSG) at Shoosmiths, advising retail and commercial funders, independent and captive, over asset finance transactions of all sizes.
Shoosmiths began offering full-service collections in mid-2011 and the RSG was nominated for a Customer Commitment Award in early 2013 for its work. Regarding the nomination, Jenny Ogden, senior associate at Shoosmiths, wrote in February’s issue of Motor Finance of the need to take into account the mental health of debtors.
richard.brown@timetric.com
