Collector – October 2019 - 12

FYI

PLANNING

STUDENTLOANS

ARE WORKERS SAVING ENOUGH FOR RETIREMENT?
A recent survey of 2,000 Americans found that while two-thirds of workers are saving
for retirement and many express confidence that they will have saved enough, only 42%
have actually tried to calculate how much money they will need for retirement. Plus, U.S.
workers also expect to work longer than current retirees actually do. More than 4 in 10
people retired earlier than they expected-most often, the Employee Benefit Research
Institute noted, because of a health problem or changes within their company.
The Plan

8 in 10

Workers expect to work
for pay in retirement

56%

The Reality

3 in 10

Retirees have actually
worked for pay in retirement
Source: EBRI

CREDIT

Of college students
don't know the
interest rates on their
student loans.
Source: Clever Real Estate

STATES WITH THE HIGHEST CREDIT CARD DEBT LEVELS
By the start of 2019, U.S. consumers had accumulated more than $1 trillion in
credit card debt. Evaluating data from the U.S. Census Bureau, Federal Reserve and
TransUnion, WalletHub researchers calculated the median credit card debt level per
state, plus the cost and time required to pay it off.
Alaska had both the largest median credit card debt as well as the longest estimated
timeframe to pay it off. Iowa had the lowest median credit card debt, though Indiana
claimed the top spot for shortest expected payoff timeframe.
` The five areas with the least sustainable levels of credit card debt are:
Median CC Debt

Cost to Pay Off

Time to Pay Off

ALASKA

$4,144

$575

19 MONTHS, 11 DAYS

DISTRICT OF COLUMBIA

$3,242

$404

17 MONTHS, 12 DAYS

VERMONT

$2,227

$247

15 MONTHS, 14 DAYS

WASHINGTON

$2,880

$313

15 MONTHS, 3 DAYS

COLORADO

$2,985

$324

15 MONTHS, 3 DAYS
Source: WalletHub

12

OVERHEARD

"My fear is that phone
calls from organizations
in this industry are not
even going to show up in
voicemail; they are just not
even going to make it."
-Tim Collins, chief
compliance officer
with TrueAccord,
discussing the Federal
Communications
Commission's call
blocking ruling on
a recent episode of
ACA Cast. Listen at
acainternational.org/
acacast.
ACAINTERNATIONAL.ORG


http://www.acainternational.org/ http://www.ACAINTERNATIONAL.ORG

Collector – October 2019

Table of Contents for the Digital Edition of Collector – October 2019

President’s Page
Industry News
Best Practices
FYI
Collection Tips
Accessibility From Every Angle
Information Transformation
Calendar
Honor Roll
Education Spotlight
Behind the Name
A.I. is Transforming Compliance. Are You Ready?
What to Watch in 2020
ACA’s Industry Advancement Program Provides Amicus Support in Key FDCPA Statute of Limitations Issue
ACA SearchPoint
Ad Index
Membership
Last Word
Collector – October 2019 - Cover1
Collector – October 2019 - Cover2
Collector – October 2019 - 1
Collector – October 2019 - 2
Collector – October 2019 - 3
Collector – October 2019 - 4
Collector – October 2019 - President’s Page
Collector – October 2019 - Industry News
Collector – October 2019 - 7
Collector – October 2019 - 8
Collector – October 2019 - 9
Collector – October 2019 - Best Practices
Collector – October 2019 - 11
Collector – October 2019 - FYI
Collector – October 2019 - 13
Collector – October 2019 - Collection Tips
Collector – October 2019 - 15
Collector – October 2019 - 16
Collector – October 2019 - 17
Collector – October 2019 - 18
Collector – October 2019 - 19
Collector – October 2019 - Accessibility From Every Angle
Collector – October 2019 - 21
Collector – October 2019 - 22
Collector – October 2019 - 23
Collector – October 2019 - Information Transformation
Collector – October 2019 - 25
Collector – October 2019 - 26
Collector – October 2019 - 27
Collector – October 2019 - 28
Collector – October 2019 - 29
Collector – October 2019 - Calendar
Collector – October 2019 - Honor Roll
Collector – October 2019 - Education Spotlight
Collector – October 2019 - 33
Collector – October 2019 - Behind the Name
Collector – October 2019 - 35
Collector – October 2019 - A.I. is Transforming Compliance. Are You Ready?
Collector – October 2019 - 37
Collector – October 2019 - What to Watch in 2020
Collector – October 2019 - 39
Collector – October 2019 - 40
Collector – October 2019 - 41
Collector – October 2019 - ACA’s Industry Advancement Program Provides Amicus Support in Key FDCPA Statute of Limitations Issue
Collector – October 2019 - 43
Collector – October 2019 - ACA SearchPoint
Collector – October 2019 - Ad Index
Collector – October 2019 - Membership
Collector – October 2019 - 47
Collector – October 2019 - Last Word
Collector – October 2019 - Cover3
Collector – October 2019 - Cover4
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