COMMERCIAL COLLECTION AGENCY ASSOCIATION

COMMERCIAL LAW LEAGUE OF AMERICA

Date: October 22, 2008

Contact: Emil Hartleb, Executive Director, Commercial Collection Agency Association, P. O. Box 205, Cedar Grove, NJ 07009-0205. Telephone: (973) 239-0721, Fax: (973) 239-5017. E-mail: ehartleb@ccaacollect.com

ACCOUNTS PLACED FOR COLLECTION SET NEW RECORD

Emil Hartleb, Executive Director of the Commercial Collection Agency Association (CCAA) reported that business-to-business accounts placed for collection with members of the CCAA rose to a record level for the twelve months ending September 30, 2008, reaching $13,498,720,600. The previous record took place in 2002; placements reached $13,159,677,099.

Hartleb noted that this increase does not fully reflect the effect of the recent credit market and banking situation. "The effect of these events will be seen in future placements," he said.

Ninety percent of CCAA members surveyed believe that the next quarter of 2008 will show moderate to significant increases in accounts placed for collection and new record might be achieved.

Eighty percent of CCAA members surveyed indicated that they have experienced a decline in the collectability of accounts placed with them for collection. The median decline in collectability reported was approximately 5.6 percent.

Hartleb indicated that this decline in collectability has caused CCAA members to "work out" a greater number and more protracted payment schedules to liquidate debts.

Hartleb noted that 90 percent of CCAA members surveyed believed that the next quarter of 2008 will show moderate to significant declines in the collectability of accounts placed and that decline in collectability will continue into the first half of 2009.

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The Commercial Collection Agency Association (CCAA) is an association of 105 commercial collection agencies that have been CERTIFIED by the Commercial Law League of America. They represent the leaders in the commercial collection or business-to-business collection industry, handling about seventy percent of the commercial accounts placed for collection. The Commercial Law League of America is the nation's oldest creditors' rights organization, founded in 1895.

Members of the CCAA subscribe to a strict Code of Ethics and undergo an intensive and continuing certification process. For more information on CCAA, the certification process and its members, go to the Website:

www.ccaacollect.com or call Emil Hartleb at (973) 239-0721.