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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