ao link
0 £0.00
This item was added to your basket
Credit Strategy homepage
Intelligence, Insight and community for responsible professionals in credit

CSA responds to calls to stop all collections action

The Credit Services Association (CSA) has issued a detailed response to the government after calls from debt charities to halt all collection activities - and potentially write off billions of pounds of debt.

The CSA said that rather than pulling away from each other, the government, pressure groups and the debt advice sector should be working with the CSA and its members in determining a way forward.


CSA members act on behalf of nearly all of the major financial institutions, banks, credit card companies and the government. But its members also manage more than 750,000 commercial accounts, mostly on behalf of small businesses, collecting more than £400m every year.


The membership also has more than £67bn to collect at any one time and the firms employ more than 11,000 staff, a large majority of those are based in the north of England.


Following the debt advice charities calls, the CSA has lobbied for a collaborative approach in coming up with policies that deal with a specific and clearly defined problem, without causing additional issues that make matters worse.


“Now is the time for clear heads and clear thinking,” said Peter Wallwork, CSA chief executive.


He added: “We need to resist calls for wholesale changes which may look like the answer but fail to take into account the bigger picture and the wider impact on society and our economy. We need to help the greatest number we can but in such a way that doesn’t damage the credit/customer ecosystem irrevocably.


“Losing contact with customers, for example, may make matters worse not better, especially at a time when the debt advice sector is already swamped with calls and our members’ teams are in the perfect position to help navigate customers through these uncharted waters.”


Wallwork has already written to all of the c.250 CSA members to urge them to show additional forbearance where it is needed: “Many of our members had already taken proactive action to support their customers so it wasn’t a case of us telling them what to do but more them telling us what they’d already done.”


The CSA said its membership contributes around £4bn to the UK economy, while also providing about £35m in voluntary FairShare and levy contributions to the debt advice sector.


“It would be folly to put such funding at risk, simply because the consequences of an action had not been properly thought through, and this would directly impact front line free to consumer debt advice,” Wallwork added.


Wallwork explained that not everyone will be affected by the latest crisis to the same degree.

Some, he explained, will see their costs rise, their jobs under threat and their life changed beyond all recognition. For others, he added, there will be little or no impact at all, and a draconian ‘one size fits all’ approach – which could see an automatic three-month suspension of activities – would not make for a sensible policy.


“Ministers need to recognise that CSA members already help millions of customers to manage their debts and support the most vulnerable by funding and working with the principle debt charities. But we have seen that these charities are already overwhelmed, so ceasing customer contact at this critical time will do more harm than good.”

Please login to continue reading this article.

Not a member?

Become a member

FREE registration. No credit card required

Register now
  • Stay up-to-date with industry news and appointments
  • Hear about events first
  • Read 1 free Premium article per month

Become a premium member

From as little as £3.48 per week

Become Premium
  • All the perks of a standard member plus:
  • Access to the entire Credit Strategy website
  • 12 months subscription to Credit Strategy Magazine
  • 25% discount to all conferences
  • Exclusive access to Premium Member only roundtables
  • 50% off award entry fees



Phillips & Cohen launches new data management platform

Phillips & Cohen launches new data management platform

Women in Credit 2021 shortlist confirmed

Women in Credit 2021 shortlist confirmed

FCA action taken against debt packagers

FCA action taken against debt packagers

Upcoming events

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback – an online news and information service for the UK’s commercial and consumer credit industry. is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group