When the real estate market suffers immensely as it has in San Diego and basically around the rest of the United States in recent years, it leads to serious problems for millions of homeowners who suddenly find themselves in trouble.
Opportunities for collection agencies in CANADA will come mainly from the Banking / Credit Card / Distress Lending (Payday Loans) industries as unemployment produces more delinquent customers; credit granters react quickly to potential risk factors; re-financing options for consumers will be further limited because of tighter credit adjudication policies; and more consumers will have to resort to payday lenders for money in order to survive job losses and or income reductions.
B2C collection suffered a lot from government endeavors to license the collection industry. In March 2009 an association of Ukrainian collection companies was established, with its first endeavors directed on protecting the collector’s reputation and the development of fair debt collection practice rules. Only 6-8 financially strong collection companies can survive, yet the Ukrainian market is full of dozen’s of small start up collection companies that commenced business in Q1 2009.