Collection Agencies are DisappearingCollection Agencies are Disappearing
Over the last decade, the number of collection agencies continue to decline, due both to mergers within the industry, and the number of businesses that have simply closed.
In a time of hyper-technical law suits, many formerly prosperous and well run collection agencies have just closed their doors, rather than subject themselves to potential unfounded litigation.
Over the decade, 1,105 agencies, all former members of the ACA (American Collectors Association), have merged or closed. This is a decline of 30% over a 10 year period and represents an ever smaller number of places that merchants who self insure and use a verification company, can get their checks collected.
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