UK Racks Up GBP 1 Trillion of Consumer Debt and Many Struggle to Manage the Burden.DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c43438) has announced the addition of Datamonitor's new report: Credit Risk and Bad Debt Management in the UK Retail Lending Market to their offering. With many consumers struggling with their debt commitments, lenders have seen an increase in bad debts prompting them to take a number of measures to deal with the situation. So, how indebted in·debt·ed adj. Morally, socially, or legally obligated to another; beholden. [Middle English endetted, from Old French endette, past participle of endetter, to oblige are consumers? How serious is the issue? What measures are consumer credit providers and mortgage lenders adopting to improve the quality of their lending portfolio? This report provides the answers. Scope of this title: - Covers both the unsecured Unsecured A loan or equity interest that is given without any guarantee of payment, performance, satisfaction or opportunity for return from the recipient. No property, interest or security is used as collateral in either a guarantee or a pledge. and secured lending markets including credit cards, unsecured personal loans and mortgages. - Examines how consumer debt has increased over the years and how the IVA, bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most and Debt Management Plan industries are growing. - Analyses bad debt management strategies among retail lenders. - Covers the debt collection sector. Report Highlights - IVA companies have been keen to promote IVAs as a solution for debt-laden consumers via heavy advertising through various channels such as TV, radio, newspapers, yellow pages and the Internet. For instance, the CCCS CCCS Consumer Credit Counseling Service CCCS Colorado Community College System CCCS Core Curriculum Content Standards CCCS Calvary Chapel Christian School CCCS Current Controlled Current Source CCCS Corpus Christi Catholic School CCCS Call Centre Council of Singapore mentioned that Debt Free Direct - a major IVA-specialized company - spent on average u1,500 in advertising per IVA client in 2004. - The Banking Code Standards Board has introduced new rules to strengthen its code of practice. While it is a positive step towards tackling overindebtedness and curbing bad debts in the future, it may be a case of too little too late for the minority of customers who are already saddled sad·dle n. 1. a. A leather seat for a rider, secured on an animal's back by a girth. Also called regionally rig. b. Similar tack used for attaching a pack to an animal. c. with huge amounts of debts. - Lenders such as Abbey, Barclays and Egg are targeting those credit card customers who are borrowing on their credit card over a long-term period and have accumulated ac·cu·mu·late v. ac·cu·mu·lat·ed, ac·cu·mu·lat·ing, ac·cu·mu·lates v.tr. To gather or pile up; amass. See Synonyms at gather. v.intr. To mount up; increase. high balances on their card to consolidate their credit card debt Credit card debt is an example of unsecured consumer debt, accessed through ISO 7810 plastic credit cards. Debt results when a client of a credit card company purchases an item or service through the card system. into an unsecured loan Unsecured Loan A loan that is issued and supported only by the borrower's creditworthiness, rather than by some sort of collateral. Notes: Generally, a borrower must have a high credit rating to receive an unsecured loan. . This approach enables the lender to better manage bad debts. Reasons to order your copy: - Learn about your competitors' strategies to curb bad debt in the future - Learn about your competitors' strategies to recover bad debt - Gain a thorough insight into the issue of increased consumer debt in the UK Summary of Contents: Chapter 1 Introduction Chapter 2 Overview of consumer debt in the UK Chapter 3 Credit risk and bad debt management in the retail lending industry Chapter 4 Conclusions Chapter 5 Appendix For more information visit http://www.researchandmarkets.com/reports/c43438 Source: Datamonitor |
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