Collector - February 2018 - 7
New Ernst & Young Study Highlights
Third-Party Debt Collection's Vital Role
hird-party debt collection has an
important impact on America's
national, state and local economies,
according to a new study by ACA
International and global advisory firm
Ernst & Young based on 2016 data.
"The Ernst & Young study is an
important tool for member education,
public relations and our advocacy agenda,"
said Josh Adams, ACA International's
director of research. "The findings from
the 2017 report provide valuable insights
into the contributions of the industry to the
Key national findings of this landmark
Recovering Assets: A total of $67.6 billion
was recovered and returned to creditor
clients. The collection of consumer debt
also provides a valuable benefit to American
households, as third-party debt collection
efforts represent $579 in savings on average
per household by keeping the costs of goods
and services lower.
Job Creation: Third-party collection
agencies directly employed 129,262 people
with a payroll of $4.9 billion. Indirectly, the
industry influenced the creation of more
than 89,000 jobs.
Paying Taxes: Third-party debt collection
agencies and their employees paid $852
million in federal taxes, and $677 million in
state and local taxes. The ancillary impact of
the industry generated a total $1.6 billion in
federal taxes paid and $1.28 billion in state
and local taxes.
Giving Back: Third-party collection
agencies and their employees contributed
$17.7 million and volunteered 521,700 hours
to charitable community causes.
To review the complete ACA/Ernst
& Young report, "The Impact of ThirdParty Debt Collection to the National
and State Economies in 2016," visit www.
Share your feedback and insights on
the survey on Facebook and Twitter using
ACA Member Melissa Nash Discusses Industry,
Leadership with Florida Newspaper
elissa Nash, president and CEO
of Accounts Receivable Inc. in
West Palm Beach, Fla., knows
the importance of working hard and that
all experience pays off. She recently talked
with the Palm Beach Post about her career,
leadership and community involvement as
well as challenges in the collection industry.
"Our business is constantly changing," she
told the Palm Beach Post. "We must change
with the market and markets and demand
change with the economy. I am proud of our
evolution and ability to adapt. And, from
there, the business has grown."
Nash is president-elect of the Florida
Collectors Association. She is also active in
Junior Achievement, teaching children about
In the article, she shared business advice
she's received in her career, as well as what
she tells young people about the debt
"We (collection agencies) are an
unfortunate necessity. The debt collection
industry collectively returns $45 billion
back to the economy. I also talk about the
importance of credit and the true cost of good
credit versus bad credit over the lifetime. As
the new president of the West Palm Beach
Police Athletic League's board, I try to give
this lesson to the kids there as much as I can
without driving them crazy," Nash said.
Read the complete interview with
Nash featured in the Palm Beach Post
on the newspaper's website: http://pbpo.