DUBLIN--(http://www.researchandmarkets.com/research/sbgj87/debt_services) has announced the addition of the "Debt Services (Commercial & Consumer) Market Report 2013" report to their offering.)--Research and Markets (
“Debt Services (Commercial & Consumer) Market Report 2013”
This Key Note Market Report covers lending to individuals including consumer credit and loans secured on dwellings as well as lending to corporate bodies, which includes financial corporations, non-financial corporations, unincorporated businesses and non-profit-making organisations (NPOs). The debt services industry focuses on both the management and collection of these debts by companies set up specifically for that purpose. Debt management agencies work for the indebted consumers and companies to liaise with creditors and bring about a resolution to debt issues, whereas debt collection agencies work for the creditors to try and recover unpaid debts.
The debt services industry is almost unique, in that it is one of the few which truly profits from an economic slump; during periods of poor economic performance, when unemployment and inflation are high, more people turn to debt management companies to try and ease their debt burden. In 2008 and 2009, the total UK lending by monetary financial institutions increased by 13.4% and 2.3%, respectively.
In 2011, there were a total of 142,430 individual insolvencies recorded in the UK. Although this was lower than the peak of 159,641 in 2009, it remains considerably higher than in 2007, prior to the financial crisis. Individuals are increasingly being forced into insolvency as their debts become too great to manage.
With unemployment high and expected to remain so until 2015, demand for the services offered by debt management companies should also remain high. In addition, the prospect of rising inflation spurred by any future possible expansion of the Bank of England's (BoE's) quantitative easing policy or an increase from the historically low base rate of 0.5% could impact significantly on heavily-indebted consumers, thus leading to an increase in consumers seeking debt management assistance.
- Allied International Credit (UK) Ltd
- BCW Group Ltd
- Baines and Ernst Ltd
- Churchwood Financial Ltd
- ClearDebt Group PLC
- Controlaccount PLC
- Debt Advisory Line Ltd
- Experto Credite
- Fairpoint Group PLC
- Gregory Pennington Ltd
- Harrington Brooks (Accountants) Ltd
- Invocas Group PLC
- Lawrence Charlton Ltd
- Marston Group Ltd
- MoneyPlus Group Ltd
- Payplan Ltd
- Philips Collection Services Ltd
- Regal Credit Consultants Ltd
For more information visit http://www.researchandmarkets.com/research/sbgj87/debt_services