Debt collection agencies are tracking down £60 billion

Think your job is tough?. As of December 2011, debt collectors have been handed £60 billion in debt to chase down. According to the Credit Services Association the figure has grown by £6 billion in the second half of 2011. Most of the debt has been passed on by mainstream leaders but the CSA has seen a shift  with utility services such as electricity and phone providers also passing overdue accounts on debt collection agencies.

At the end of 2011 the CSA said that’s members were handling 32 million cases of debt. That is the equivalent of one debt per UK household. The figure was up from 28 million six months previously.

The CSA has said that the debt is “fresh debt”, meaning it was less than six months old and the chance of recovering most of it was high.