What areas are most of the Debt Collection Industry working in?
Very interesting facts by the ACA International.
According to a 2015 study, there were over 12 Trillion Dollars in outstanding consumer debt, of which $672 Billion was at some stage of delinquency. Editorializing, that's a LOT of money not in our economy. Money someone earned, that has not been paid.
The Big 4 in Debt Collection
- The Healthcare industry represents 37.9% of all consumer debt collections
- A distant second, Student Loans account for 25.2% of debt collection activity.
- Financial Services consume 12.9% of third-party debt collection activity.
- The government has been experimenting off and on for quite a while with third-party debt collection professionals - and they represent a 10% market share.
After the "Big 4". Retail, Telecommunications, Utility, and mortgage each represent between 2 & 3% of third-party debt collection efforts.
Marcadis Law Firm PA is predominantly involved in Consumer and Business to Business debt collection (also known as Commercial Debt Collection).