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Value of Collections to Consumers

Value of Collections to ConsumersFor consumers, the benefit of third-party debt collection can be seen through reduced consumer prices and greater consumer purchasing power, since consumers would likely be faced with higher prices if businesses were unable to recoup losses resulting from bad debt. A 2020 survey by Kaulkin Ginsberg and analysis shows that the $90.1 billion in debt returned to creditors on a commission basis is equivalent to an average savings of $706 per American household that might have otherwise been spent had businesses been forced to raise prices to cover the unrecovered debt. The average per household savings attributable to third-party debt returned to creditors translates into approximately 8 months of cellular phone service, 86 days of electricity, or 188 gallons of gasoline.

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