Despite the poor economy, lower liquidation rates and riskier — albeit cheaper — debt portfolios, revenue at the top accounts receivable management firms rose nearly 20% overall in 2008.
The trend may continue this year as collection agencies forecast a 5.8% revenue increase, on average, for 2009, according to Collections & Credit Risk's annual survey.
Participants in the survey give information on things like gross collections, hiring and revenue performance.
Debt buyers did not fare as well as collection agencies. Their combined revenue fell nearly 7% last year, and they expect revenue to fall another 12% this year, according to their aggregated forecasts.
Complete results of the survey and a listing of the top agencies and buyers by revenue appear in the August issue of the magazine, which SourceMedia publishes.
