Collections and Recovery Predictions 2020: Brexit and Other Challenges
As both creditors and third-party debt servicers change their operating models, economic challenges and regulations will prove harder to manage
Executive Brief
Debts in the UK, including credit card debt and personal loans, rose 11% to £119bn in the two years to March 2018, according to the ONS. Average household financial debt rose 9% to £9,400. Much of the increase is a result of higher student loan and hire purchase debt. The figures include £32bn of student debts, which many will never pay back.
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