There is currently £31billion
with collection agencies and £27billion with debt purchasers. This is actually
£2.2billion more than the total government budget for protection (police, law,
courts) and transport which stand at £33.4billion and £22.4billion respectively
for 2012. This total debt is spread across a wooping 32million accounts which
is quite similar to the size of the UK working population. Therefore for visualisation
purposes would mean that each person of working age in the UK would owe the equivalent
of £1,810 to a collections agency or purchaser.
Only 6 months ago the total debt
with DCA’s or Debt Buyers was £6 billion less with 4million fewer cases. Is
this growth in the industry sustainable? Does it mean that firms need to become
more productive in order to gain from this growth?
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