Re: Statistics About Bill Collectors

Posted by observer (205.188.209.12) on April 09, 2003 at 08:39:53:

In Reply to: Statistics About Bill Collectors posted by Former Collector on April 09, 2003 at 00:04:01:

To add to the statstics: This is a most inefficent industry. If a debt is 24 months old, the average collection nets roughly 20 cents on the dollar. If there was ever an industry group whose life blood was dependent on continiually acquring product to work at distressed prices, 3rd party collections is a perfect example.
If you're going to collet a debt in it's entirety, your best chance is inside 6 months.
The older a debt gets, the worse the chance for recovery. Discover, Sears and, Citi have figured that out and that's why they sue so much faster than other OC's.

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