As Debt Collectors Multiply, So Do Consumer Complaints
Caroline Mayer reports for the Washington Post on the growth in the number of firms specializing in collections.
Between 1995 and 2004, the industry grew from purchasing $12 billion worth of consumer debt to $77.2 billion, according to the Nilson Report, a newsletter that monitors the credit industry. The report said that last year debt buyers paid an average of 5.4 cents for every dollar of unpaid debt.
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