What’s Debt Collection? How does it work? What is the State of Debt Collection in 2014?
Debt Collection is a hotly debated industry in 2014. With more enforcement action and more consumers getting into debt, many hold to firm opinions about the pros and cons of the trade. To help the discussion with some facts, we’re proud to present TrueAccord’s 2014 State of Debt Collection infographic. Here’s you’ll find answers to common questions and misconceptions like:
- Debt collectors only buy debt for cents on the dollar and collect as much of it as possible (wrong!)
- Debt collection is loosely regulated (absolutely wrong!)
- There is a lot of money in debt collection (true indeed)