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A New Era for Debt Sales.
When the world started to shut down in March of 2020, there was
great uncertainty on how the pandemic would affect the economy,
employment and consumers.
Amidst the uncertainty, it was clear right away that most companies
would need to cut costs, cut staff and brace for a severe hit to their
This ambiguity extended to the world of debt collection and debt
The prevailing wisdom at the time was that debt collection would be
challenged by increasing unemployment resulting in consumer’s
difficulty to keep up with payment arrangements.
The ARM industry also speculated there would be headwinds relative
to a reduced collection capacity as collectors miss work as schools
are cancelled and workers fear coming to work. And certainly there
would be operational challenges relative to the transition to remote
In all, it was expected that there would be a tough road ahead for
debt collectors and sellers alike.
The unemployment fears were not unfounded. Civilian unemployment
reached 14.8% by April of 2020, the highest level since 1948. But as it
turned out, any negative impacts for the debt collection industry
proved to be short lived.
As the pandemic played out, it actually turned into a golden era for
debt sellers, debt buyers and collection agencies.
Let’s take a look at the key trends that emerged during the pandemic
and how they are shaping the current market for debt sales.
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