The number of people electing to go ex-directory in the UK have surged beyond the 50% mark to reach an all-time high, presenting major concerns for debt collection companies and the UK economy. With a rise in the number of people choosing to exit the phone book, the UK’s personal debt is set to soar as debt collecting agencies are facing increasing difficulties identifying and verifying individuals.
The ex-directory figure currently stands at 58% of people registered with the UK Telephone Number Database (an extract from BT OSIS). With the total UK personal debt flirting with the £1 trillion mark, and expected to hit £10 trillion by 2015 according to PwC in a recent article in The Telegraph , more and more people are struggling with debt, leaving companies with a huge problem in tracking down outstanding debtors and securing payment. Furthermore, these companies could also face problems meeting Principle 4 of the Data Protection Act, which states personal data shall be accurate and up-to-date.
Etrace delves into the largest pool of landline and mobile telephone numbers available, sourced from a range of previously unavailable datasources and following close consultation with the Information Commissioners Office. This market leading tracing solution gives you access to the widest and most current levels of UK identity information for the fastest and most accurate individual tracing.