Debt Collectors do good work
Against popular opinion, Third Party Debt Collectors benefit the community in several ways. While the “bad apples” of our industry get the most press, the PA Collectors Association is one of the most active in our national association of American Collectors Association International, making sure our members are being fair and ethical to consumers and following the laws in reporting the debts.
PA Collection Agencies returned $2.4 Billion to companies that were owed money. In these tough economic times, how many of those companies might have gone out of business without the use of a collection agency to recover unpaid invoices for the services they provided?
PA Collection Agencies employ over 13,000 people with a payroll of over $439M. These same agencies have a Local/State Tax Impact of $45M and a Federal Tax Impact of $42M.
On a national level the numbers expand to $55 Billion recovered for businesses, over 302K employees, Local/State Tax impact of $1 Billion and a Federal Tax impact of $970M. Not to mention over $85M in charitable contributions and over 650,000 employee volunteer hours.
If you need assitance with your Account Receivables, contact an agency that is a member of the PA Collectors Association or ACA to ensure professional and ethical debt collection. We dislike the agencies who give our industry a bad name as much as anyone.
Steve Gohn, President