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Study Shows Positive Economic Impact of Third Party Collections

February 15, 2012

The Association of Credit and Collection Professionals (ACA International) recently commissioned Ernst & Young to take a closer look at the economic impact that third-party collectors have had. The results of the survey were released earlier this week, giving us a more precise depiction of collectors’ contributions at the national and state levels. A complete listing of the findings can be found by clicking here, but here are some of the results that caught our eye.

Collectors in all 50 states combined to recover a gross amount of $55 Billion for a range of industries that includes healthcare, higher education, financial institutions, small businesses, and non-profit organizations. North Carolina based agencies, like PRC (Revco Solutions), were able to recover over $800 million.

Jobs and Charitable Impacts
The focus of the study was much broader than just how much third-party collections we were able to collect. While there are those who associate third-party collectors with economic hardship, the industry has shown to be responsible for providing close to 4,000 jobs in North Carolina alone while also contributing $27 Million in tax revenue at the State and Federal levels.

Finally, we have routinely made a point to highlight PRC (Revco Solutions)’s relationship with the great people at SafeChild. We were delighted to learn that there are so many collectors in the state with a strong focus on giving back to the community. Ernst and Young reported $1.6 Million and over 10,000 volunteer hours had been contributed to charitable causes by NC collectors.

The take away from the survey results should be not only the economic impact of our industry but also its commitment to citizens and the community at large.

Affiliations Audits & Achievements

  • HFMA: Healthcare, financial, management, association
  • AAHAM: American Association of Healthcare Administrative Management
  • ACA International

Revco Solutions Locations

Durham, NC (Corporate Headquarters)

2700 Meridian Parkway
Suite 200
Durham, NC 27713

Oradell, NJ

800 Kinderkamack Rd
Suite 206 North
Oradell, NJ 07649

Jacksonville, FL

7016 AC Skinner Parkway
Suite 160
Jacksonville, FL 32256

Dewitt, MI

1161 E Clark Road
Suite 240
Dewitt, MI 48820

Dayton, OH

6450 Poe Ave
Suite 301
Dayton, OH 45414

Columbus, OH

250 E Broad Street
4th Floor
Columbus, OH 43215

Omaha, NE

5807 N 102nd St
Omaha, NE, 68134

Indianapolis, IN

9339 Priority Way West
Suite 120
Indianapolis, IN 46240

Austin, TX

Financial Corporation of America (FCOA)
A Revco Management Company
12515 Research Blvd., Suite 200
Austin, TX  78759