Third-Party Debt Collectors Return $67.6 Billion While Supporting 129,262 American Jobs

2/1/2018 8:00 AM

The Study Conducted by Ernst & Young Provides Detailed Data Demonstrating Once Again Third-Party Debt Collection Industry’s Positive Impact on the Economy


According to a new survey conducted by Ernst & Young on behalf of ACA International, the third-party debt collection industry returned $67.6 billion to creditors, ranging from financial institutions to small businesses in local communities, in 2016. The survey findings are presented in a report titled, "The Impact of Third-Party Debt Collection on the U.S. National and State Economies in 2016,”  which also shows that the credit and collection industry supported 129,262 American jobs in 2016.

“This study reinforces the significant beneficial impact the third-party debt collection industry has on the American economy,” ACA President Rick Perr said. “Third-party debt collection agencies help the government and private businesses recover billions of dollars in delinquent debt that if unpaid, would adversely affect consumer prices, borrowing costs and business performance.”

Other key findings of this important study include:

  • Recovering Assets:  A total of $67.6 billion was recovered on behalf of creditor clients. The collection of consumer debt provides a valuable benefit to American households, as third-party debt collection efforts represent $579 in savings on average per household by keeping the costs of goods and services lower.
  • Job Creation:  Third-party collection agencies directly employed 129,262 people with a payroll of $4.9 billion. Indirectly, the industry influenced the creation of more than 89,000 jobs.
  • Paying Taxes:  Third-party collection agencies and their employees paid $852 million in federal taxes, and $677 million in state and local taxes. The ancillary impact of the industry generated a total $1.6 billion in federal taxes paid and $1.28 billion in state and local taxes.
  • Giving Back:  Third-party collection agencies and their employees contributed $17.7 million and volunteered 521,700 hours to charitable community causes.

The complete report, which includes state-by-state data, may be viewed on ACA International’s website accessible here

ACA International (ACA), the association of credit and collection professionals, is the largest membership organization in the credit and collection industry. Founded in 1939, ACA brings together third-party collection agencies, law firms, asset buying companies, creditors and vendor affiliates, representing tens of thousands of industry professionals. ACA produces a wide variety of products, services and publications, including educational and compliance-related information; and articulates the value of the credit and collection industry to businesses, policymakers and consumers.



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