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01 July 2014

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Business Debt Outsourced For Collection Exceeds £1 Billion

An article in the January 2013 addition of the credit magazine  concludes that proof that businesses are finding it increasingly difficult to collect their cash is provided in new statistics-published for the first time-from the Credit Services Association (CSA), the industry body representing the UK debt collection industry.

At the end of September 2012 9Q3) the amount outsourced by businesses to third-party debt collection agencies stood at £1.145 billion, an increase of 12 percent on the previous quarter (£1.021 billion) and more than £216 million higher than the figure recorded at the end of 2011 (£0.928 billion)

A spokesperson for the CSA says that the rise in volumes and values shows that more businesses are turning to third parties to recover their cash. The conclusion from this is that businesses are increasingly seeing the use of third-parties not as a failure their own part to collect the cash, but rather as an integral part of their credit management strategy.

 

Google Author: "By Chris York"

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