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27/04/2012
Government Departments Outsourcing Debt Collection
Government departments tasked debt collection agencies with recovering almost £60bn in unpaid consumer debt last year, according to figures release for the first time by the industry.
The Credit Services Association, the trade body for collection agencies that published the figure, said the that the amount of outstanding debt had been steadily increasing in recent years and grew by £6bn in the 2nd half of 2011.
A spokesman for the CSA said there had been "a cultural shift" which meant more government agencies were outsourcing debt collection.
"The economic environment has undoubtedly become more difficult and so it is no surprise that debts are rising,” CSA's president, Sara de Tute, said.
"But there are also other reasons, including 'new' creditors within the private sector and parts of national government who no longer see an issue with outsourcing debt for collection to professional and highly regulated agencies capable of recovering monies vital to the public purse."
Joanna Elson, chief executive of the Money Advice Trust said the figures made it clear that individuals across the UK were struggling to clear huge amounts of debt.
"We have seen just this week that the UK economy has returned to technical recession, but the reality for many people is that the recession never really went away at all, meaning they have been struggling to make ends meet for the last few years.
"When it costs more and more to put food on your table, heat your home and fill up your car, credit card repayments become less of a priority."
(H)
The Credit Services Association, the trade body for collection agencies that published the figure, said the that the amount of outstanding debt had been steadily increasing in recent years and grew by £6bn in the 2nd half of 2011.
A spokesman for the CSA said there had been "a cultural shift" which meant more government agencies were outsourcing debt collection.
"The economic environment has undoubtedly become more difficult and so it is no surprise that debts are rising,” CSA's president, Sara de Tute, said.
"But there are also other reasons, including 'new' creditors within the private sector and parts of national government who no longer see an issue with outsourcing debt for collection to professional and highly regulated agencies capable of recovering monies vital to the public purse."
Joanna Elson, chief executive of the Money Advice Trust said the figures made it clear that individuals across the UK were struggling to clear huge amounts of debt.
"We have seen just this week that the UK economy has returned to technical recession, but the reality for many people is that the recession never really went away at all, meaning they have been struggling to make ends meet for the last few years.
"When it costs more and more to put food on your table, heat your home and fill up your car, credit card repayments become less of a priority."
(H)
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21 October 2004
Charity calls for credit reform to tackle rising debt problems
Citizens Advice has issued a credit warning to consumers after revealing that people approaching the agency with debt problems had risen by three-quarters over the past seven years. On the back of the figures, the charity has today called for a reform of Britain’s "outdated" consumer credit laws to be included in the Queen’s Speech later this year.
Charity calls for credit reform to tackle rising debt problems
Citizens Advice has issued a credit warning to consumers after revealing that people approaching the agency with debt problems had risen by three-quarters over the past seven years. On the back of the figures, the charity has today called for a reform of Britain’s "outdated" consumer credit laws to be included in the Queen’s Speech later this year.
14 February 2011
Funding Of £27m Secures Face-To-Face Debt Advice Programme
The future of the face-to-face debt advice programme has been secured today with the Government announcing £27 million of funding for the next year. The Government wants to ensure that individuals facing financial difficulty can get valuable impartial advice early, rather than wait until their problems become much more difficult to resolve.
Funding Of £27m Secures Face-To-Face Debt Advice Programme
The future of the face-to-face debt advice programme has been secured today with the Government announcing £27 million of funding for the next year. The Government wants to ensure that individuals facing financial difficulty can get valuable impartial advice early, rather than wait until their problems become much more difficult to resolve.
04 February 2010
Interest Rates And 'Easing' Held
The Bank of England today held interest rates at 0.5%, with so-called 'quantitative easing' being mainted at £200 billion. The UK officially climbed out of recession last month, following a 0.1% growth in output. "After a substantial fall in output, the UK economy recorded sluggish growth in the final quarter of 2009," the bank said this morning.
Interest Rates And 'Easing' Held
The Bank of England today held interest rates at 0.5%, with so-called 'quantitative easing' being mainted at £200 billion. The UK officially climbed out of recession last month, following a 0.1% growth in output. "After a substantial fall in output, the UK economy recorded sluggish growth in the final quarter of 2009," the bank said this morning.
18 January 2006
CSA reforms could see private firms chase absent parents
Private debt collectors could be set to take over the collection of money from parents who fail to pay child support. Plans have emerged regarding efforts to reform the Child Support Agency (CSA), which has been under sustained attack for failing to meet a wide range of criteria.
CSA reforms could see private firms chase absent parents
Private debt collectors could be set to take over the collection of money from parents who fail to pay child support. Plans have emerged regarding efforts to reform the Child Support Agency (CSA), which has been under sustained attack for failing to meet a wide range of criteria.
03 October 2005
National scheme to tackle personal debt
People with personal debt problems are set to benefit from a new national scheme, which encourages early contact between debtors and creditors. The introduction of Pre-Action Notices (PAN), by the Department for Constitutional Affairs, is aimed at helping people to resolve debt difficulties without going to court.
National scheme to tackle personal debt
People with personal debt problems are set to benefit from a new national scheme, which encourages early contact between debtors and creditors. The introduction of Pre-Action Notices (PAN), by the Department for Constitutional Affairs, is aimed at helping people to resolve debt difficulties without going to court.
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