Understanding the Bigger Picture of Debt and Collection
1. 4/12/2018 Consolifi Blogs: Debt And Collection: a Bigger Picture
https://consolifi.blogspot.nl/2018/03/debt-and-collection-bigger-picture.html 1/2
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Tuesday, March 27, 2018
Posted by Consolifi at 5:22 AM
Labels: debt collection, general public, industry
Debt And Collection: a Bigger Picture
Debt is part of everyone’s lives, and so is debt collection. In the United States, millions upon
millions of Americans are in some way, in debt. According to national statistics, over 30 million
people living in America have unpaid debt. While this number is staggering, it should be noted
that debt comes in many forms, from student loans, to mortgages, to unpaid medical bills, to
unpaid parking tickets, to unpaid highway tolls.
As such, it comes as no surprise that countless agencies in the debt collection industry have
been hit with an endless number of complaints from people and businesses who owe money. The
number of complaints for debt collection agencies is so high that the Consumer Protection
Bureau entertains more complaints against debt collectors than any business in the United
States. Although it should be worthy to note that almost 4 out of 10 of those complaining are
seniors.
Households in the United States for
example, are over $15,000 in debt to
credit card companies (on an
average). College graduates, also on
an average, owe almost $30,000 to
loaning companies or the government.
This is quite puzzling since around
half of the people who’ve graduated
from college, who are also in debt, are
employed by companies that don’t
require college degrees.
Consolifi gives clients guidelines on
understanding debt settlement
companies. Learn more about
Consolifi’s services here.
Image source: domingo-law.com
Image source: gravitatefinancial.com
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2. 4/12/2018 Consolifi Blogs: Debt And Collection: a Bigger Picture
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