"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:
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