DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/4c162d/debt_management_c) has announced the addition of the "Debt Management (Commercial & Consumer) Market Report 2010" report to their offering.
As of the end of 2009, the total amount of UK bank and building society lending outstanding to individuals and businesses stood at 2,452.09bn, a rise of 2.8% on 2008. Between 2005 and 2009, the total amount of UK bank and building society lending outstanding to individuals and businesses rose by 48.5%.
This Market Report covers lending to individuals, including consumer credit and loans secured on dwellings; and corporate bodies, including other financial corporations, non-financial corporations, unincorporated businesses and non-profit-making organisations (NPOs). In 2009, the largest sector of the market was loans to other financial institutions. Loans to other financial institutions was also the fastest-growing sector between 2005 and 2009.
In September 2010, the Office of Fair Trading (OFT) informed 129 debt management firms that they faced losing their consumer credit licences unless they took immediate action regarding compliance with OFT debt management guidance. These formal warnings followed an OFT review examining the debt management sector which found widespread problems, including the failure of companies to disclose the extent of their fees to clients and the employment by some debt management companies of incompetent frontline advisers, who offered poor advice to customers. Misleading advertising campaigns by some debt management companies were also of concern.
Companies Mentioned:
- Baines and Ernst Ltd
- Churchwood Financial Ltd
- ClearDebt Group PLC
- Debt Advisory Line Ltd
- Fairpoint Group PLC
- Gregory Pennington Ltd
- Harrington Brooks (Accountants) Ltd
- Invocas Group PLC
- MoneyPlus Group Ltd
- Payplan Ltd
- WKD UK Ltd
- Allied International Credit (UK) Ltd
- BCW Group PLC
- Controlaccount PLC
- Intrum Justitia Ltd
- Marston Group Ltd
- Philips Collection Services Ltd
- Regal Credit Consultants Ltd
For more information visit http://www.researchandmarkets.com/research/4c162d/debt_management_c