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Debt Collection Positively Impacts Narional Economy
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New Study Shows Third-Party Debt Collection Positively Impacts the National and State Economies

By ACA International
MINNEAPOLIS, Jan. 30, 2012 -- /PRNewswire-USNewswire/ -- Third-party debt collection has an important impact on America's national, state and local economies, according to a new study by ACA International and global advisory firm Ernst and Young (www.acainternational.org/impact) based on 2010 data.

"These findings reinforce the critical role the third-party debt collection industry plays as a service provider in recovering unpaid consumer debt on behalf of the public, private and non-profit sectors," said ACA International CEO Pat Morris. "Moreover, third-party collectors are actively engaged in their local communities as employers, volunteers, philanthropists and taxpayers."

Key national findings of this landmark survey include:

• Recovering Assets: A total of $55 billion was recovered on behalf of creditor clients. The collection of consumer debt also provides a valuable benefit to American households.  Based on a net of $44.6 billion recovered, third-party debt collection efforts represent $396 in savings on average per household by keeping the costs of goods and services lower.
• Job Creation:  Third-party collection agencies directly employed 148,272 people with a payroll of $5 billion.  Indirectly, the industry influenced creation of more than 300,000 jobs with a payroll of $10 billion.
• Paying Taxes:  Third-party collection agencies and their employees paid $495 million in federal taxes, and $509 million in state and local taxes. The ancillary impact of the industry generated a total $970 million in federal taxes paid and $1 billion in state and local taxes.
• Giving Back: Third-party collection agencies and their employees contributed $85.2 million and volunteered 652,000 hours to charitable community causes.

"Our nation was built on the premise that those who provide credit, goods and services to consumers have the expectation of being repaid," said ACA International President Mark Neeb. "Recovering these debts helps organizations survive; prevents layoffs; keeps cost down and credit, goods and services available; and reduces the need for tax increases to cover government budget shortfalls."

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Having trouble collecting some unpaid invoices? Credit Authority Corp can help :)
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Wouldn't you rather end the year with less receivables? Call CAC today! We can help! :)
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When you should hire a collection agency!
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FREE COLLECTION TIPS: WHEN YOU SHOULD HIRE A COLLECTION AGENCY:

WHEN YOU SHOULD HIRE A COLLECTION AGENCY:

Most smart business owners and managers realize that hiring a collection agency is always a good decision, but they may not realize that if you have delinquent accounts past due your normal time frame, hiring a collection agency is a must-do.

Debt collection agencies of any type have proven success rates that far succeed first party collection attempts unless you’re a large company with a collection agency as a subsidiary. Your salespeople and marketing staff should be working on business building, not debt collection, and your accounting staff is not properly equipped to spend most of their day on collections.

A collection agency will be even more suited to solve your collection problems because they will have familiarity with thorny issues such as local laws, time differences, customs and language barriers. collections are complicated and should be handled by professionals due to the strict laws than now exist.

This is a job that should be turned over to a collection agency immediately so it can be handled skillfully and promptly. Your return will be much greater, your cash flow will improve because you don’t have to pay for their services until they collect, and your time will be freed up rather than trying to navigate different cultures, legal systems and time zones without a compass.

A collection agency is more suited to do these activities than your own or your own staff because a collection agency will be better suited to handle these issues than you yourself are. A collection agency will employ people who speak the local languages and understand local customs. They will also operate during the best hours for collections calls, as opposed to people who live halfway across the world. In addition, they’ll be cognizant of local laws in a way you just can’t do.

The final and crucial advantage a collection agency has is the option of using local private investigators. Most investigation firms operate on a national basis at best, because this is how the databases they access are organized.

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Hire A Collection Agency Now!!!!

Here are 7 reasons why it's a good idea to outsource your receivables TO A STRONG AGENCY.

1. It Keeps your Best employees free to do what they do best. This improves productivity, and it improves morale.

2.The Outside Collection approach is less expensive than the do-it-yourself approach.

This is true for the following reasons:

You have high salaried people in house handling this problem, add postage, rent, telephone, and employees benefits used or spent while pursuing delinquent files.

This could get very costly!

3. Turning Collections over to an outside collection firm helps distance your firm and your employees from customers negative reactions, helping you maintain goodwill across your customer base.

4. By Subcontracting the debt recovery process you typically will compensate the outside Collection Agency only if they collect your delinquent files.

5. The Chance of Collecting on a delinquent file drops as time goes by. The latest numbers, reflecting activity from a variety of industries and companies, produced these percentages.

Age of Accounts: Collect-ability %

60-120 Days 85%

121-180 Days 60%

181-360 Days 20%

6. You avoid Law suits from any of your employees not being educated or equipped with the right tools or knowing the laws for example FDCPA or HIPAA

any violation on these laws can be very costly.

7. YOU ELIMINATE 100% THE COST OF SALARY FOR THIS TASK.

Credit Authority Corp

Collection Services

• Fast recoveries.
• Ethical Company FDCPA & HIPAA Compliant
• High Success rate due to the personal attention we provide to each file.
• You can expect to retain the goodwill and continued business relations of your delinquent account, usually with improved paying habits.
• Working Capital back in your pocket

When you hire a Collection Firm as Strong As Credit AUthority Corp, you can rest assured we will provide you with excellence in the field of collections,

" Don't worry about collections worry about your business we've got you covered."

Call Us for more info.

(818) 905-7853

http://www.CreditAuthorityCorp.com/