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Don't Give Your Profit Away--Money Collecting can be easy!
In 2013, agencies recovered approximately $55.2 billion in total debt, on which they earned close to $10.4 billion in commissions and fees.
U.S. businesses sent a whopping $141 billion in delinquent consumer debt to collections and that debt collection agencies collected $51 billion in past due debt, keeping close to 25% of that as profit.
Debt collection lawsuits are on the rise. According to WebRecon, a record breaking 12,000 debt collection lawsuits are expected to be filed in 2010, up from 9.300 in 2009 and 4.400 in 2007.
The industry averages about 20 percent recovery on delinquent debt. Several decades ago, it averaged 30 percent.
62.3% of past due monies in America not collected
Collections Agencies Average 25%
Collection Activity Related Law Suits are up 75% since 2007
IS 20% enough when you can easily have so much more?