The amount of personal debt in the UK is growing at an unprecedented rate. According to statistics from The Money Charity, people in the UK owed £1.479 trillion at the end of May 2016, with the average total debt per household up at an eye-watering £54,740. This huge level of personal debt in the UK has pushed the growth of the debt services industry over the past few years, and there are now hundreds of companies trying to win their fair share of the business.
The rise in UK debt has driven the rise in debt industry competition, but many have begun to rely on financial services data providers to deliver accurate and fully compliant leads. Firms such as Seawave Media are being specifically targeted for their experience with compliance issues as well as their ability to locate and secure fresh loan decline data and debt management data on a daily basis. For some debt services, access to this level of opt in leads can result in elevation above their rivals.
Benefiting from IVA leads
Many financial services data providers also provide debt service companies with IVA leads, which are increasingly beneficial as household debt rises. An IVA, or Individual Voluntary Arrangement, is an agreement with creditors to pay back debt in part or in full. IVAs are becoming increasingly popular as the rising number of high-debt households attempt to avoid bankruptcy, but many debt management companies are missing out on this opportunity due to a lack of accurate or successful IVA leads.
Thankfully, many financial services data providers also have networks in place to deliver opt in IVA leads that provide small debt management companies with access to large amounts of data each day. Unlike many small companies, large consumer data providers have the policies in place to meet the strict demands of ever-changing compliant laws, so companies can take advantage of a high turnover of accurate data without having to cope with the drawbacks.
Debt Data at Seawave Media
At Seawave Media we pride ourselves on delivering high quality debt management data to help debt management companies acquire new customers quickly and easily. We provide a wide range of data types, from survey data and management leads to debt consolidation loan decline leads. Our dedicated debt data experts can even support companies with telemarketing and business process outsourcing, so you can spend more time worrying about the aspects of your business that really matter.