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ARM firms collected nearly $102.6 billion in debt, with a recovery rate of 11.1%

  • Written by Steel Rose

ARM firms collected nearly $102.6 billion in debt, with a recovery rate of 11.1%

Says 2020 State of the Industry Report

·       Creditors placed roughly 1.6 billion accounts with ARM firms. The aggregate face value was nearly $923.1 billion, representing an average account balance of $574.

·       ARM firms collected nearly $102.6 billion in debt, with a recovery rate of 11.1% of face value.

·       Total net debt returned to creditors amounted to nearly $90.1 billion.

·       This represents roughly $706 in savings per household.

·       The ARM industry employed around 124,400 – including payroll employees and owners. Total compensation, which combines aggregate payroll, amounted to almost $5 billion.

·       ARM firms contributed an estimated $108.3 million to charity.

·       ARM employees offered roughly 524,000 hours of their time to volunteering – including 229,800 hours for company-sponsored activities.

·       ARM companies and their employees paid roughly $1.1 billion in federal taxes and $105.9 million in state and local taxes.

 

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