November 2012

The clocks have changed, nights are drawing in and we have had some early large snowfalls around parts of the country. Christmas ads are already on the TV. Winter is approaching. 

Construction and housing markets underpin the economy so it is disappointing to see that UK construction activity fell 13.1% in September from a year ago, as the sector's downturn steepened, Office for National Statistics figures have shown.

The month saw further big drops in new building by the commercial and public sectors (excluding infrastructure projects), both of which were down by a fifth from a year ago.House building saw a 5% bounce in the month but remains 12% below a year ago.

Further, we say goodbye to Comet who appointed Administrators on 2nd November.

Focus On.......Property Visits

We are often asked by our clients to visit a property and provide information relating to it.Typically our clients - banks, solicitors, landlords - ask us to provide a range of information and the purpose of our visit could be to find out any manner of detail. For instance, our clients may ask us to :

1. Confirm the details on an Ordnance Survey Map 
2. Report on its condition 
3. Confirm what the property is used for 
4. Find out who is living/working there (as opposed to tracing somebody) 
5. Advise them what is actually on the site 
6. Ascertain if the property has been divided into flats 
7. Confirm if it is owner occupied or if it has been let/sublet
8. Provide an up to date valuation

An Open and Shut Case

One of our solicitor clients asked us to attend at a property that they had repossessed using another agent. The property was advertised for sale and the estate agent had visited to make sure everything was okay. He found that his keys would not give him access.It seemed that the doors may have been screwed shut from the inside.The curtains were closed but he thought he saw them "twitch". We were asked to visit and find out what was going on.

On attending at the address we had a look around the front of the property and whilst the curtains were indeed closed, we saw that one of the lower floor windows was closed to but not shut properly or locked. On opening the window and the curtains we found that the living room was full of someone's personal possessions.

We then spoke to a neighbour, who was not aware of the repossession, and told us that the former occupant was still living there. She gave us access through a shared locked gate to the rear we saw that one of the windows had been broken. He had therefore broken back into his former property and was coming and going through the front window, while telling our client he was having to live at a local hotel.

 

London House News

We have held a number of follow up interviews from the NEC Franchise Show last month and are pleased to say that discussions are progressing and deposit cheques being received from prospective Franchise Owners. We have set some training dates for later this month.  We have also held our Franchise Owners' Conference at the National Badminton Centre in Milton Keynes. The event gets bigger and better each year and is a great opportunity for our nationwide team to get together and share best practices as well as catch up with friends and colleagues. Our very special thanks go to not only our Franchise Owners but also our guest speakers from Franchise Development Services, UK Global, Chartis, The Federation of Small Businesses and The Martin Cliffe Practice.

You asked us

"The Council of Mortgage Lenders have released figures showing that the number of repossessions has fallen. Nice to see some positive news!" 

Indeed, as recently reported by The BBC, the number of homes being repossessed has fallen to a five year low. The CML reported that there were 8,200 repossessions during the third quarter of 2012 which is the lowest quarterly figure since 2007. 

There are, though, some underlying concerns. Whilst the number of borrowers in arrears is stable at 159,100 and the number of repossessions is falling, this is reflective of record low interest rates and lenders showing restraint with those borrowers in difficulty. Lenders have been under pressure not to repossess properties unless it is genuinely a last resort; they also have to jump through many hoops to successfully obtain Court permission to seize a borrower's home.  

Long term arrears have risen but Banks won't be able to go on absorbing arrears into their balance sheets indefinitely, and they also have a duty of care to ensure borrowers don't build up too much debt by allowing them to stay in a property if this is unsustainable.

October 2012

It is pleasing to read that Ernst and Young are forecasting the UK economy will rebound in the second half of this year and grow by 1.2% next year buoyed by a housing market revival next spring.

There are "if's and but's" and much will depend on the extent to which consumers take opportunities to pay down their debts. This won't be helped by yet more price rises being passed onto them by their gas and electricity providers from November.

Focus on....Customer Interviews

Latest statistics from the financial education charity, Credit Action, show that 1,552 people a day reported that they had been made redundant between May and July 2012 and that £53,706 is the average household debt including mortgages.

The estimated average outstanding mortgage for the 11.2m households that carry mortgage debt stood at £111,793 in August.

The figures also tell us that the CAB are dealing with 8,465 new debt problems each working day, while 93 properties are repossessed each day. Staggeringly, in Q2 2012 UK banks and building societies wrote-off £1.15 billion (of which £567 million was credit card debt) amounting to a daily write-off of £12.52m. Click here for the full report into the UK Debt Statistics

Here at London House we interview many individuals on a daily basis on behalf of our clients in an effort to get their up to date financial position. Wherever possible we meet them at home and complete a detailed income/expenditure/assests/liabilities breakdown. If our client has asked us, we will also negotiate a repayment programme on their behalf within agreed parameters. 

Wherever You Go

We were asked by one of our overseas clients to visit a debtor to interview them about their finances and to get a closer feel for their asset base. The subjects owed a large amount of money to a financier abroad and our client wanted the debt transferred and registered in the UK to allow them to obtain judgment and proceed with enforcement.

When they had originally borrowed the money they provided a schedule of their assets both in New Zealand (where they resided at the time) and in the UK. When the borrowing went into default they fled back to the UK. We tracked them down and met with them. Whilst not particularly pleased to see us they saw the error of their ways and co-operated with us. We were able to establish that they did indeed have a good asset base and were also in full time, well paid, employment. The liabilities they had were comfortably manageable.

Armed with this information, our client began enforcement procedures and ultimately a repayment programme agreed via the sale of property assets.

London House News

As mentioned last month we have exhibited at the NEC twice in October.

 Firstly, we were at the National Franchise Exhibition on 5th & 6th. This was our first time at this event and we feel it went very well. We received a good number of enquiries from potential new Franchise Owners and we are hopeful that some will progress to them becoming part of our network. Indeed, follow up interviews are already being held at Head Office. 

We were then back at the venue on the 9th and 10th for the Solicitors Group exhibition, Law Autumn NEC. Again, a new event for us but a good opportunity for us to meet both existing and potential new clients. We were helped over the two days by Allan Fern, our Franchise Owner for Dudley and Birmingham, thank you Allan, and we now have a number of enquiries to follow up.

Finally, it will soon be time for our own Franchise Owners' Conference (how quickly it comes around!). This year it is being held on 7th November and will be at the National Badminton Centre in Milton Keynes. There will be a large turn out from our network and it is shaping up to be our best conference yet. More details next month.  

You asked us

"The Credit Action Debt Statistics were published on 3rd October. Any thoughts?" 

I have touched on these figures above. Whilst there are some encouraging signs, such as the total amount of credit card debt continues to fall and outstanding unsecured consumer credit was down £9bn at £156bn on the previous year, there are still causes for concern. 

Every 15 min 30 sec a property is repossessed and every 4 min 49 sec someone will be declared insolvent or bankrupt. 904,000 people had been unemployed for over a year between May and July 2012 and total outstanding personal debt stood at £1.412 trillion at the end of August which is up from £1.407 trillion last year. These are depressing figures. 

Clearly as a country we have some way to go to get out of this gloom and reach growth as suggested by Ernst and Young. There are still some tough times ahead. 

September 2012

What a summer it has been for sport - The Tour De France, Olympics, Paralympics, a Murray Major and now perhaps the biggest story of all - the truth about Hillsborough.

It has taken 23 years but finally the details have been revealed. After all the great successes of the summer we are now faced with a national disgrace. But, the truth will out and justice will prevail.

The Hillsborough families have acted with honesty, integrity and dignity and are as much an example to us all as our athletes.

Focus on.....Commercial Property Repossessions

We do many repossessions during the course of our work but some of you may not know that we do commercial repossessions as well as residential. Our work in this sector is varied with us repossessing many types of property from farms, shops and warehouses to hotels, pubs, guest houses and even a whole industrial estate.
 

As with a residential property repossession we attend with a bailiff and when he has executed his warrant we take over. We take meter readings and liaise with the utility companies, drain down systems, change locks and make the property secure according to our clients instructions. A full schedule of anything left in the property is taken along with photographs. If required we also arrange for clearance of the site and then undertake weekly security visits. 

Water, water everywhere

One of our clients asked us to repossess a cold store unit on an industrial estate. The property had been empty for a little while and we had attended the site in order to obtain quotes for locksmiths, shuttering and alarm security. When we reattended to begin the work it had been raining for two whole days and we arrived to find the site under 3ft of water.

The electric had been turned off some time previously, and therefore caused the problem insofar as the pump that cleared surplus water away from a sump was unable to function. Whilst we ourselves did not have the equipment to deal with the problem we were immediately in contact with a suitable contractor who subsequently pumped 160,000 gallons of water away and then cleared away the tons of mud and sludge that remained.

It's all in a days work.

London House News

It has been a busy month at London House. Firstly, I am pleased to advise of two new Franchise Owners.

Andrew Beard  joins us from a background as a Senior Insurance and Re-insurance underwriter with considerable international experience. Andrew has taken over the Norwich postcode area from Ted and Linda Witton who have retired. Welcome Andrew. London House Services Norfolk

Also joining us is Graham Stowell who will be covering the Oxford postcode area. Graham is a QA and QC professional with UK and international experience with the Dept. of Health, Glaxo Smith Kline and Siemens. He is also a Director of a currency exchange and trading business. Again, welcome aboard.

London House Services Oxford

As mentioned last month we will be exhibiting at the NEC twice in October. The first event is the National Franchise Exhibition on 5th & 6th (stand number H65) and then we are back at the venue on the 9th and 10th for the Solicitors Group exhibition, LawAutumn NEC (stand number 10). Do please come along and chat to us, we would be delighted to see you.

We have recently attended the annual Credit Services Association conference. The conference had its highest ever attendance and it was great to catch up again with industry peers. A very informative conference from which it became clear that compliance and regulation is becoming ever more prominant in our industry. No bad thing.

Finally, the latest edition of The Score will shortly be arriving at your offices, but is now available on line. I hope you enjoy it.

You Asked Us.......

"What is the strangest job you have ever been asked to do?" 

It has to be the chickens! 

As can probably be imagined we come across all manner of things to be dealt with on a commercial repossession. Normally potential complications are identified on a pre-repossession visit and solutions put in place ready for the day of the repossession. On occasion however, we are not asked to visit the property before the day and we don't know what we will find until we get there. For instance, we were instructed to take possession of a farm that was used for breeding chickens. On arrival the occupier had vacated the property but kindly left behind his stock of several thousand chickens. You have a limited number of options in such an instance but our local Franchise Owner saved the day (and the chickens) by getting them rehomed with another farmer in the region.

August 2012

Recent news has, rightly, been dominated by the Olympics and what a fantastic show it was. Our best ever performance at the Games was surely helped by the public who seemed to become overwhelmingly involved in their desire to be a part of the event. Team GB can be very proud.

In the background, there has been talk of a cut in Base Rate, further revelations about LIBOR, banking fines, and a hint of the next possible "scandal" - packaged bank accounts. Life goes on!

Continuing the Olympics theme, last month we made mention of Rajiv Ouseph, a 25 year old English badminton player currently representing England as the No.1 Singles Player in the UK. Rajiv was selected for the London 2012 Summer Olympics and, whilst playing very well and giving a good account of himself, sadly failed to progress beyond the group stages of the tournament. He won his first match and narrowly lost 21-19 in the third game of the next. It was a great experience for him and he will take a lot from it, but sadly it was not to be. Rio?

Milton Keynes resident, Greg Rutherford, has different memories of course, having secured the Gold Medal for Team GB in the mens long jump event. A fantastic result with his jump of 8.31m enough to win him the title of Olympic Champion. As we know, the Post Office have taken to painting a red letter box gold in the home towns of the GB winners, and to this end two(!) boxes are now displaying their new colours in the city centre. Many congratulations Greg!

Focus on......Trace and Discreet Enquiries

When a client has lost contact with a debtor, we are often asked to trace the debtor's whereabouts and then try and investigate what assets they may have without raising their suspicions.

As you will know, trace is one of our areas of expertise and our Franchise Owners are highly skilled in field trace work. We often overcome a number of difficulties in locating people who do not want to be found, but we remain determined and our success rate of c70% confirms our abilities.

When found, we may be asked to investigate the debtor's assets. Obviously, this would normally be their residential property but we also look out for such things as vehicles, other property investments, business interests etc. Where possible we will also seek to gather information from neighbours in an effort to perhaps confirm our thoughts or just provide us with a little snippet of detail. It should be remembered, of course, that there are also occasions when there is no new information or details to find!

Lets Chat

One of our clients asked us to confirm the residential address of a debtor and to undertake enquiries into any assets that they may have. They had understood that he owned a property overseas. 

Our local manager began making enquiries in the area and was able to confirm that the debtor was still living at the address provided by our client - he was clearly avoiding them. Continuing the enquiries she took a stroll past the address one morning and the subject was in the front garden. She decided to strike up a casual conversation and they were soon chatting away. With the subject none the wiser, she came away from the conversation with not only first hand verification that he lived at the address but also with details of his various properties overseas and the websites through which he rented them out. A positive result for our client which wouldn't have been possible if our managers never left their desks.

London House News

We continue to receive many enquiries from prospective Franchise Owners and we are pleased to advise that two of these now have progressed to the purchase of territories. The new owners are joining us next week for the start of their two week residential training, so more details on this next month when they should be up and running!

At Head Office we are also turning our thoughts to a number of up coming events. We will be exhibiting at the NEC twice in October. The first event is the National Franchise Exhibition on 5th & 6th and then we are back at the venue on the 9th and 10th for the Solicitors Group exhibition, Law Autumn NEC. Again, more details next month but for now if you would like to come along and chat to us at any of these shows then please make a note of the dates.

November will soon be here! That means our annual Franchise Owner conference is rapidly coming around again. We are beginning to put the day together for our team and are looking forward to another great day.

You asked us........

"Whilst London House is not a debt collection agency (DCA), what do you make of the recent figures released by The Credit Services Association?" 

Frankly, they are mind boggling! We are not a DCA but do of course become involved in tracing the debtors, interviewing them or indeed serving papers on them. The figures released by the CSA (based on member information submitted to them) show that agencies are currently recovering nearly £6m debt everyday. As at the end of March, the total value of unpaid consumer debt held by CSA members for collection was £58billion.

The total number of consumer debts awaiting collection stands at a staggering 32 million. The CSA members have reported a trend of new consumers falling into debt for the first time, with many consumers having nothing left to cushion them from any emergencies which may arise. It appears that the double dip recession has resulted in an increase in the number of debtors from more affluent households seeking financial help and advice.

Focus On.....Drug and Alcohol Screening

In association with a world leading forensic accredited laboratory, London House can provide our clients with informative lectures, advice and consultation as well as comprehensive screening and testing services.

Amongst other things, research has shown that drug screening can reduce accidents in the workplace, increase the quality of work, reduce absenteeism and sickness and increase productivity.

Full details are available via our head office or please see our website for more information

London House Drug Screening

Splitting Hairs

One of our Solicitor clients practising in Family Law approached us to see if we could help with a difficult case in which, due to continued drug abuse, a mother had lost custody of her child some time previously.

In an effort to regain custody, she had to undergo a rehabilitation programme and then prove that she was clean. Desperately wanting her child back, and knowing that she could not continue as she was, she underwent the rehabilitation and proceeded to keep off the drugs. Her Solicitor now needed to prove she was clean.

We were instructed to facilitate the testing of the subject and this was done by taking a 3cm sample of hair. Each centimetre of hair retains chemicals found in drugs over a 1 month period, so we had a 3 month history of any drug taking. The sample was submitted for comprehensive testing for a number of drugs and came back negative for all tests. The mother had done what she said she would and was reunited with her child.

London House News

Our newest Franchise Owner, Carole Hender, has now completed her training and is up and running covering the HR & WR (Hereford & Worcester) postcodes. 

Carole was originally a graphic designer then lecturer.  She has experience of running her own business as company director and most recently has worked on a research project at the University of Worcester. Welcome aboard.

Carole's contact details can be found on her web pages:

 London House Services Hereford and Worcester

We would also like to express our thanks to John and Alison Whitewood of London House Services Taunton. They kindly hosted the first London House Golf Day at the wonderful Weston Super Mare course and the day was a  great success. The day was attended by representatives of London House and clients of our Taunton office. We look forward to many more of these over the coming years.

You asked us.........

"I believe that your work is typically debt related, are all of your clients in the finance sector?"

Most of our work is indeed from the finance sector (and the associated legal providers to that industry) but we have a broad range of clients both in finance and outside of it. Because we offer a range of investigative services we are used by a number of clients across a range of industries. Without being specific, examples of our client base would be:

• Banks, Building Societies, Finance Houses
• Solicitors - Litigation, Debt Recovery, Family, Employment
• Insolvency Practitioners, Accountants
• Local Authorities
• Fee paying schools, Universities
• Housing Associations 
• Government Agencies
• Insurance Companies
• SME's as well as Large Corporates
• Breweries
• Credit Unions

To name but a few! 

June 2012

Despite the awful weather, what a wonderful weekend it was in celebration of the Queen's Diamond Jubilee. The pomp and pageantry of these occasions is what we do best and surely no other country in the world can put on such a show, truly inspirational!

In the markets it is pleasing to see that gross mortgage lending by building societies and other mutual lenders rose 23% in April 2012 compared to the same month last year. In the first four months of 2012 lending rose 36% compared to the same period in 2011. Net lending by mutuals was positive for a seventh consecutive month.

Mortgage approvals by mutuals were up 50% in April compared to the same month last year, and were 20% higher than the average over the previous six months. Showing a very healthy pipeline, approvals were up 43% in the first four months of the year compared to the same period in 2011.

Focus On.......Customer Interviews

There is no doubt that times are still hard for many throughout the country and we are seeing a growing trend by our customers in asking us to visit their debtors on their behalf.

We interview many individuals on a daily basis in an effort to get their up to date financial position and help our clients assessment of each file. Wherever possible we meet the debtor at home and complete a detailed interview form consisting of income/expenditure and assets/liabilities. As you may expect, meeting the subject at home allows us to report details that they may have not told our client, such as vehicles and other assets. We paint a picture to help our clients make cost effective decisions.

It's still home

We were asked by a bank client to visit one of their customers at home and try to interview him to establish his means and ability to repay his debt.

On arriving at the property we found it to be a two storey derelict cottage and completely uninhabitable. It was clear that there were serious structural problems with the building, and the site included a number of portacabins as well as a considerable amount of rubbish.

We spoke to a number of local residents and obtained information which led us to a new address for the subject where we were able to interview him. Clearly his circumstances were not good, and the condition of his property was such that a sale would not be straightforward. However, by being able to get a close understanding of his circumstances (our client was not aware of the property condition) and finding that he was helpful towards our enquiries we were able to go back to our client and help them reach a mutually acceptable agreement. This would not have happened without a visit to the address.

London House News

Our newest Franchise Owner, John Ginivan, has now completed his training and is up and running covering the RM (Romford) postcodes.

His contact details can be found on his web pages:

London House Services (Romford & Thurrock) Ltd

We have also taken two further deposits for new Franchise Owners and they will be joining us for training in July. More details next month.

You Asked Us

"You seem to be taking on a number of new Franchise Owners lately, how big is the London House UK network now?"

We currently have 36 Franchise Owners who between them cover 60 franchised territories or postcode areas. Our office locations stretch from Glasgow in the North to Exeter in the South West.

Mortgage lending and approvals increase in April

Gross mortgage lending by building societies and other mutual lenders rose 23% in April 2012 compared to the same month last year. In the first four months of 2012 lending rose 36% compared to the same period in 2011. Net lending by mutuals was positive for a seventh consecutive month.

Mortgage approvals by mutuals were up 50% in April compared to the same month last year, and were 20% higher than the average over the previous six months. Showing a very healthy pipeline, approvals were up 43% in the first four months of the year compared to the same period in 2011. 

Retail savings balances at mutuals increased by £99 million in April, compared to an increase of £1,468 million in the same month last year. After interest credited is removed there was a net withdrawal of £463 million in April. 

Commenting, Adrian Coles, Director-General of the Building Societies Association, said:

"Gross lending by mutuals increased again in April year on year, whilst lending by banks fell slightly. As expected gross lending was down on the March figure as mortgage lending in that month was boosted by first-time buyer activity to beat the stamp duty holiday. Approvals were strong in April running well above the previous six month average. This clearly indicates that mutuals will continue to be active lenders to homebuyers in coming months."

"Savings balances at mutuals increased in April, but it remains difficult to attract savers when household finances are still pressed. It was welcome news to learn that consumer price inflation fell half a percentage point to 3.0% in April from 3.5% in March, however this is still above the growth in average earnings, and inflation is not likely to fall back to the 2% target any time this year."

Late payment in business is becoming the norm

A survey into international credit trends shows that late payment is in danger of being a new corporate culture. According to a second annual survey of credit and finance professionals, more than 70 percent of leading international and UK suppliers are being paid late by their customers.  Of those paying late 44.8 percent are paying later than 15 days – an increase of more than seven percent on last year.

The survey also reveals that 68.9 percent of the 218 respondents have had requests to extend payment terms over the last 12 months – compared with 59 percent in last year’s survey.  

The report was undertaken by P&A Receivables Services Plc and the MSc Finance at Sheffield Hallam University Business School

CCCS Consumer debt and money report

New research commissioned by the Consumer Credit Counselling Service (CCCS) suggests young people are being disproportionately affected by the deteriorating state of the economy.  

The CCCSConsumer Debt and Money Report Q1 2012, produced by the Centre for Economics and Business Research (Cebr), identifies a generation of ‘baby-busters’ – people born in the 1980s to the baby-boomers but facing a range of problems limiting their financial prospects. 

Unemployment

• Under 25s now make up the largest group of unemployed people in the UK. One in four men and one in five women aged under 25 are out of work – with increasing long term consequences. Among young people helped by CCCS, around 45 percent are unemployed compared to 30 percent of all debt advice clients.

Stagnating incomes, struggling with debt

• In the first quarter of 2012, CCCS provided debt counselling to 3,600 people under the age of 25, or around 40 people every day. Unsecured debt levels are relatively low, averaging £5,800, but low incomes and high unemployment make repayment more difficult – average monthly take-home pay is £980, £400 less than the average client.

Tuition fees

• With two out of five young people aged 18-22 attending university, tuition fees will add roughly £9,500 to the debt burden of the average British citizen of future generations, meaning less money available for savings and less of a cushion against debt distress.

For the population as a whole, the CCCS Interest Burden Index shows debt servicing costs are broadly stable. The typical household paid £197 a month to service debts, more than a quarter of average household income after essential living costs. 

The report is based on data compiled from CCCS activities – more than 1,000 people get help from the charity to resolve debt problems every day.

Banks slash jobs

Some 1,400 jobs are set to be slashed at the Clydesdale and Yorkshire Banks by 2015 due to a significant downgrade in the UK's growth prospects. National Australia Bank, which owns the two banks, confirmed the cuts and blamed the double dip in the commercial property market.

Pub Closures

According to figures released by the Campaign for Real Ale (CAMRA), more than 10 pubs are closing across Britain every week. Some 300 community pubs - based in suburban and rural areas - permanently closed between September 2011 and March 2012. Despite Britain's high streets showing "resistance" - recording a net loss of six pubs during the six month period - about 12 pubs a week are closing in less built up areas.

London House News

We are delighted to advise that, again, we are in the middle of training our newest Franchise Owner. John Ginivan has taken on the Romford area (RM postcodes) and will be trading as a limited company "London House Services (Romford and Thurrock) Ltd".

John has a BSc (Hons) degree and has been a senior manager in investment banking with many years experience with ABN Amro Bank.  Previously he had spells with Goldman Sachs and Commerzbank.  John is experienced with the full product range including risk and reconciliation. Welcome aboard John.

 London House Services (Romford and Thurrock) Ltd 

Further training courses are also booked in the diary for more new Franchise Owners and we will give more information next month. 

Our South East London Franchise Owners, Chris Metalle and Chris Richards, have expanded their rapidly growing business by merging with the asset recovery business, L and E Receivables. The combined operation will continue to offer asset finance companies quality management of their arrears cases with the added benefit of greater geographical coverage and more advanced systems. Alex Barnetson of L and E has joined the board of LTR as the director responsible for arrears management. We send our best wishes for this new and exciting venture which offers finance houses a service in tracing and negotiating with clients in arrears and recovering the assets, particularly vehicles, from anywhere in the UK if required through the London House network. Press release

Finally, our latest edition of "The Score" will shortly be arriving on your desks. It is available now online by clicking on the link in the left hand column. We hope you enjoy it.

You Asked Us

"The CSA has recently released, for the first time, details of the debt levels that have been passed to its members for collection. Any thoughts on the amounts?" 

They are big to say the least! At the end of 2011, the total value of unpaid consumer debt held by CSA members for collection stood at £58 billion (£58.179bn), comprising £31 billion (£31.239bn) placed by creditors with DCAs to collect, and a further £27 billion (£26.940bn) of purchased debt owned by Debt Buyers. 

The total volume (ie number) of consumer debts awaiting collection by CSA members now stands at a staggering 32 million (32,130mn) as at the end of December 2011 - the equivalent of at least one significant debt for every UK household or £1,000 of uncollected debt owed by every man, woman and child in the country. 

The figures show a rise on previous quarters, both in volume and amount, reflecting the economic climate. We are, of course, officially back in recession. In view of this, it remains to be seen how much of these figures can be collected. Full details can be found at the following link:

Unpaid debt figures

Focus On.........Process Serving

As you would expect, we are experienced with High Court, County Court and Magistrates Court and will attend at the address of the subject and personally deliver documents and thereafter swear an appropriate Affidavit of Service. It is our practice to attend at various occasions to effect personal service at no extra charge to our client. We are happy to collect documents from Court or from a client's premises if required.

We have over 40 London House regional offices giving UK-wide coverage. We also operate worldwide through a network of accredited international agents.

Got You!

Recently one of our Franchise Owners attempted to serve a Court Order on a debtor in his local area. He met the subject at the address provided by the client a couple of times but he insisted he was not the man we were after and was 'sick to the back teeth of people calling round looking for this bloke ......'. He was not a happy man.  Local enquiries suggested it was in fact him but he denied his identity again. 

We informed the client and they decided that as there was strong evidence that it was him, our Manager should letterbox the Order. Unsurprisingly he failed to attend the hearing and a Suspended Committal Order was eventually issued and sent to us for serving.  We did a little more digging and discovered a website page for the man and, handily, a photo that showed that the man we'd peviously met was indeed the right person. Further enquiries revealed that the debtor was a political party candidate in the local elections being held this month.  So our Franchise Owner personally served him at the local polling station!  Priceless.