For more than 100 years, Lindorff has protected businesses from losses and contributed to enhanced profits.

As one of Europe’s leading partners for credit management services and non-performing portfolios, the Lindorff team push themselves to deliver high standards in their day-to-day efforts.

Young debtors, aged between 18 and 25, are an increasing challenge in the Nordic markets which historically have been Lindorff’s home turf. Over the past two decades this group of young adults has become increasingly more visible as debtors in Lindorff’s books.

Lindorff considered this to be a challenge. History shows that bad payment habits established at a young age unfortunately often result in more trouble at a later stage in life. This is not only bad for the individual, but also for society at large. It also leads to higher credit risk for Lindorff’s customers. These factors have also been a general increasing concern for authorities and banks.

In 2011, Lindorff decided to launch an initiative to help young debtors. They wanted to use their core knowledge to help young people, meeting them in their own arenas and with a youthful language. The idea came from the Lindorff’s Norwegian team and was quickly adopted by their Swedish and Finnish colleagues. In 2012 Lindorff introduced the campaign “Take control”. Through mail, social media and websites, mobile apps, advertisements and chats, Lindorff reached out to young people with the aim of improving the situation by increasing knowledge about debt problems, savings, credit management and how to manage your own economic situation.
In Sweden, Lindorff hired a debt economist and launched a budgeting mobile app
to support debtors. In addition, they published a textbook about personal money management, had YouTube videos made about the same topic and started teaching personal economics at schools through cooperation with “Junior Achievement Sweden” (Ung Företagsamhet, UF).

Lindorff has also cooperated with “Stockholm Stadsmission” in helping juvenile dropouts to get their lives and financial situation back in shape. Through several activities, the Lindorff team has reached more people and shared their knowledge with the ambition “together we can do more”. The message was distributed through advertisement campaigns in an easy-to-understand language both at the Stockholm metro stations and in newspapers.

There are around 40,000 young adults with unpaid debt in Sweden and around 26,000 in Norway. Credit is more accessible in these Scandinavian countries compared to the other European countries where Lindorff operates. In Sweden alone, young debtors carry a total outstanding debt of around SEK 1.3 bn (EUR 140 mn). The “Take Control” campaign in Sweden has resulted in Lindorff’s young debtors responding with much higher action rates than the average debtor in Sweden.
The campaign has also created a general increased focus on young debtors,
as well as recognition of the Lindorff brand.

Lindorff reports annually on their Corporate Social Responsibility efforts to provide relevant information to employees, customers, debtors, the media and other important stakeholders.

Lindorff has a strong global commitment anchored in the company’s core values and in the way they run their business. Lindorff employees are genuinely concerned with creating a better future, especially for those in need of support.

The company is also actively involved in programs concerning competence development, coaching and culture.

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Rune Kibsgaard Sjøhelle, Head of Group Marketing and Communications, Lindorff.

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Since Nordic Capital came on board as an owner, they have encouraged us to measure our initiatives and to report about the improvements we make for society in the countries where we operate. We will be looking into more creative ways to document our efforts in the future