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Our Subscribers Say...
I think Credit Today is fantastic. You cover many practical topics in the credit field that I use regularly. Just one recent example—a conversation on the ListServ about preferential payments—gave me tips that I used in an actual case. The specific information I picked up from this one discussion saved me $10,000, enough to cover my membership for many years!
- Steve Savino
Manager of Credit & Collections, ASSA Abloy Americas Division, New Haven, CT
Credit Today's Resource Directory and their online e-mail forum (ListServ) provide information on almost any credit-related topic you can think of. It is a great way to exchange information with other credit professionals. As the saying goes, "You don't know what you don't know."
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Credit Manager, Big Lots Stores, Inc., Wholesale Division
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The Credit Today ListServ has become the pre-imminent online forum, providing an opportunity for discussion and comments (and occasional humor) from an impressive list of credit professionals."
David Dungan, Director of Credit
Justin Brands, Inc. (A Berkshire Hathaway company)
Fort Worth, Texas
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Ron Woods
Corporate Credit Manager-World Wide
Thales Navigation, Inc.
"The newsletter, coupled with the website and the ListServ, are to us, more valuable than any other credit publication, bar none. I try to use at least one article out of each newsletter for departmental training/discussion sessions."
D. Mark Constantine
Corporate Credit Mgr
Fulton Paper Company
"I love Credit Today and read every issue cover to cover. For me, the greatest perk of a subscription is ListServ. I believe Credit Today's ListServ members may be the most knowledgeable Credit brain trust in existence today. I have saved and categorized hundreds of contributions on a wide variety of topics which I refer to often. It's an easy and cost effective way to network and learn."
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Kimberly-Clark Customer Financial Services |
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News Release: Debt Collection Industry Flooded with Business, But Layoffs Continue
August 19, 2009
Industry that has direct knowledge of consumer liquidity is not yet experiencing an economic rebound NEWS RELEASE
For Immediate Release # # # ROCKVILLE, MD: August 19, 2009 -- U.S. collection agencies report an increased demand for their services but at the same time, a decline in collection performance, according to a new survey released by Kaulkin Ginsberg, a leading strategic advisor to the Accounts Receivable Management industry (ARM). Two-thirds (66.7 percent) of ARM companies reported moderate or significant increases in account placements from their clients. Survey respondents also indicated that second quarter collection performance declined from the first quarter of this year. On a scale of 1 to 5, with 5 being the best performance, collection agencies rated second quarter performance with an average of 3.08, down from the 3.35 reported for the first quarter. Patrick Lunsford, Senior Editor at insideARM.com, explained that the industry is feeling the effects of the economy from both ends -- there is an increased workload from clients, but consumers are less able to pay. "With consumers strapped for cash, collection agencies are accepting payment plans rather than getting a payment in full," said Lunsford. "This impacts the bottom line of many agencies." Layoffs are continuing in the industry. In fact, 32.2 percent of collection agency respondents reported layoffs in the second quarter, the highest percentage since the Confidence Survey began in mid-2008. An incredible 41.4 percent of debt buyer participants also reported layoffs in the quarter. The complete results of the Credit & Debt Collection Industry Confidence Survey, Summer 2009, including responses from debt buyers, creditors, and technology vendors to the ARM industry, are available online at: http://www.insidearm.com/go/survey-results/ Contact
Patrick Lunsford, Senior Editor, insideARM.com
240-499-3828 About Kaulkin Ginsberg
Kaulkin Ginsberg is the leading boardroom-level advisor to the Accounts Receivable Management Industry (ARM). Credit and debt collection professionals, owners, and investors worldwide rely on us for the insight, access and information needed to make well-informed decisions. Value-add consulting and M&A services cover almost every stage of a company's lifecycle, from strategic analysis to growth and exit strategies. Sister company insideARM.com is the leader in providing timely news and perspective on the recovery of debt in all industries. For more information, please visit www.kaulkin.com.
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Outlook 2012
This month's survey explores...
- What the top problems are facing credit execs currently, and
- What the top improvement initiatives are.
Click here to participate!
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