Hard time for bailiffs in debt shortage

If asked to choose a business that would boom during a recession, you would think it would be bailiffs (those employed to collect debt on behalf of a creditor).  But surprisingly, Britain’s official debt collectors have seen their businesses squeezed by the downturn.

The bailiff trade body, the Enforcement Services Association, said the amount of debt referred for collection by its members this year was ten per cent lower than last year.

As the issue of personal debt in Britain is now headline news, rather than a taboo subject, it is thought that people struggling with their finances have become more likely to seek debt help and debt advice, rather than adopt the ‘head in the sand’ approach and fall into a debt spiral.

Read the full article.

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