Are you wondering what the future of debt buying will look like and what you need to do to prepare? Mike Gibb, Administrator of AccountsRecovery.net, wrote a compelling and provocative article on July 26: How Debt Buying Will Change in the Next Five Years. The debt buying segment of the ARM industry has faced the most scrutiny in the last five years and it's a safe bet that the pressure isn't going to let up for the foreseeable future.
Costs of entry will continue to rise and there will be an even greater reliance on technology to drive efficiencies. Heightened security concerns and even more stringent compliance measures will continue to challenge the industry. Some traditional debt buyers will have difficulty adapting to these requirements, leading to further consolidation and sophistication.
Entering the segment starts with a licensing question. Our answer on whether you need a license to buy debt walks through the state-by-state triggers.
Want a deeper look into the future? Read more.
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