IMGCAP(1)]
Despite a poor economy, lower liquidation rates and riskier, albeit cheaper, debt portfolios, revenue for the top accounts receivable management firms rose nearly 20% in 2008, collectively.
The trend may continue this year as collection agencies expect revenue, on average, to increase 5.8% in 2009, according to Collection & Credit Risk's annual Industry Rankings survey.
A key objective behind CCR's report is to identify market trends based on information participants provide in the surveys – including gross collections, hiring and revenue performance.
Debt buyers did not fare as well as collection agencies. Their combined revenue fell nearly 7% in 2008 and they expect revenue to fall another 12% this year, according to their combined forecasted 2009 revenues.
Complete results of the survey and a listing of the top agencies and buyers based on revenue appear in the magazine's August issue.
