Collection Bureau Services Vital to Montana Economy
The third-party debt collection industry employs thousands of Americans and indirectly influences the employment of thousands more. By recovering tens of billions of dollars in delinquent consumer debt each year that would otherwise go uncollected, the industry generates important benefits to the U.S. economy.
To develop a more complete picture of the economic importance of the third-party debt collection industry, ACA International ("ACA") commissioned Ernst & Young to conduct a survey of third-party debt collection agencies. Survey data collection took place between September and November of 2011 to ACA members and non-member contacts which the ACA provided.
The resulting study, The Impact of Third-Party Debt Collection on the National and State Economies, gives estimates of key metrics that provide an overview of the third-party debt collection industry in the United States for 2010. Of particular interest to Montanans are these specific findings for our state.
Collection Bureau Services participated in this study and is proud to be part of this vital service in Montana!
Economic impact of Montana based agencies:
Gross Amount Recovered: $209.5 Million
Providing Montana Jobs:
Direct Collections Jobs: 365
Direct Payroll: $11 Million
Direct & Indirect Jobs: 612
Direct & Indirect Payroll: $19 Million
Direct State / Local Taxes: $1.1 Million
Direct Federal Taxes: $1.3 Million
Total State / Local Tax Impact: $1.7 Million
Total Federal Tax Impact: $2 Million
Giving Back to Montana:
Employee Volunteer Hours: 2,200
Sources: Ernst & Young, 2011 www.acainternational.org/impact & U.S. Government
Article written by Jeff Koch. Photo taken at Montana Dental Association trade show in April 2012.