Has the Legal Collection Strategy Gone Too Far?

Legal collections have long been an effective strategy to collect money from consumers. Now, it appears that it is becoming a central strategy.

Last October at the FTC debt collection workshop, much of the consumer representatives’ time was spent railing against the ARM industry’s growing love affair with legal collection strategies. It’s become common for all of the publicly-traded debt purchasers/collectors to extensively discuss their legal collections in quarterly earnings calls.