MAJOR GROWTH IN OUTSTANDING COLLECTIONS
MAJOR GROWTH IN OUTSTANDING COLLECTIONS
SOME RECENT STATISTICS DEMONSTRATING INDUSTRY GROWTH
- According to recent CLLA statistics, 1998 Quarter1 represented not only set a record high for a first Quarter, but also the 10th consecutive Quarter in which ACA members reported over $1 billion in placements.
- Professional, third-party Collection Agencies collected and returned more than $20.4 billion to the US economy in 1996.
- In July 1998 outstanding consumer installment debt totaled $1.2 trillion, a 4% increase over July 1997.
- According to ACA's 1997 Cost of Operations Survey, new accounts totaling approximately $122.3 billion was placed for collection with professional, third-party Collection Agencies in 1996.
COLLECTING DEBT IN THE UNITED STATES
OUTSOURCING - A GROWING TREND
Statistics clearly demonstrate that more and more companies - both in the Domestic markets and Internationally - are turning to accredited Collection Agenciessuch as NARC, for the purposes of collecting debt, particularly in the USA.
The reasons? Many. We present below a few common examples.
The available facilities of your own resource.
The demands to focus on your core business, its product and services.
The need to focus your financial and accounting groups on more current commercial support.
Cost and budget impact.
Company infrastructure and resource.
An increased corporate requirement to outsource specialized needs.
The specialized resource, knowledge and expertise provided by Collection Agencies.
Unfamiliarity with complex US debt collection practices.
and many more.
Take a few moments to think about how these vital debt collection issues affect you!
Add into the mix specific debt collection anomalies that particularly affect foreign companies,and you'll see the added value benefits in using the services of a Collection Agency such as NARC.
NARC : A FULL- SERVICE DEBT COLLECTION AGENCY FOR DOMESTIC AND INTERNATIONAL CLIENTS.