How Covid-19 Changed Third Party Collection Agencies
At the start of 2021, there were only 6,724 third party collection agencies left in the United States. By contrast, there were over 9,000 in 2011. There has been a steady decline in firms, since 2011 and a larger decline between 2016-2019. Much of the decline is due to mergers and acquisitions, but Covid-19 is also now playing a part. The decline of small collection agencies and rise of larger ones not only reflects trends in many industries, it can greatly impact those industries and individuals as well. Revenues Are DownIBISWorld (an industry market research firm) estimates that revenue for ...