Industry Topic

From the results of its quarterly Data Gathering Initiative, The Credit Services Association recently released figures confirming that businesses are finding it increasingly difficult to collect their cash.

At the end of September 2012 the amount outsourced to third party debt collection agencies stood at £1.145bn, an increase of 12% on the previous quarter.Similarly, there was also a rise in both the amount and volume of consumer debt passed to Debt Collection Agencies or sold to Debt Buyers. As at the end of September the amount now stands at £62bn, a rise of 4%.  

These continue to be staggering figures and collection of these debts remains critical for the economy.  

 

Full details of The CSA Press release can be found here