The Credit Services Association (CSA) has released its Data Gathering Initiative data for O2 2015. For the first time since the CSA launched its DGI in 2012, there has been a decline in the volume of debt owned by debt buyers. In Q1 2015 debt owned was £56.4 billion, this has decreased by £4.2billion to £52.3 billion in Q2 2015 (similar to a figure last seen in Q1 2014). The CSA considers there may be a number of reasons for the approximate 7% decline this quarter. It could imply that whilst some debt buyers are growing, as a sector debt buyer collections and debt written off are outstripping purchases for the first time. As a result of the decrease in debt held by the debt buyers, debt held for collection by CSA members has also fallen from £69.4 billion in Q1 2015 to £64.3 billion in Q2 2015.
In-house collections by debt buyers was £306 million in Q2 2015, this is a 18% increase from the last quarter as it stood at £260 million (Q1 2015). The data also shows that there has been an increase in the number of up-held complaints by 3%.