Solvar was just a change of name and did not involve any M&A....

Solvar was just a change of name and did not involve any M&A. Around that time the company did begin to change its methods and announced it was becoming more specialised in its financing. There was not any indication that it changed the way in which it processed applications or assessed credit. I would still be surprised if the findings indicate that their processes are as loose as you describe. With todays regulations surrounding collection practices it is fairly easy to refuse to pay and in most cases the biggest penalty you will suffer is a black mark against your credit rating. If their credit was as loose as indicated then IMO their arrears and writeoffs would not be decreasing or near the norm but heading higher. I have not got much else to go by but my previous long experience in both the credit and collecting sides of the ledger tell me that bad credit decisions will most definitely lead to heavy losses and arrears especially now that the kneecappers of the industry are almost gone. As I said we will have to wait and see whether this proves to be found by law and how many others will need to be nervous.