Unpaid debt levels revealed in new industry figures

Some £58billion of unpaid consumer debt was in the hands of debt collection agencies by the end of 2011, according to the first set of figures published by the Credit Services Association, the trade body for collection agencies.

The amount of debt that CSA members are working to collect is the equivalent of £1,000 for every man, woman and child in the country.

Most of the debt was passed on by mainstream lenders, but utility and phone companies also use debt collection agencies, as, increasingly, do government departments such as Her Majesty's Revenue and Customs (HMRC) and the Treasury.

For more information, see http://www.csa-uk.com/csa-news/63/unpaid-debts-revealed-in-new-industry-figures