U.S. Legal Collections Market Growing

The legal collections market in the U.S. grew at an annual rate of 16 percent between 2004 and 2006, and the market is poised to continue at least double-digit annual growth over the next few years, according to new research from Kaulkin Ginsberg Company.

In the latest edition of its biennial ARM industry report, The Kaulkin Report – 7th Edition, Kaulkin Ginsberg reports that U.S. collection law firms saw total revenues of $1.17 billion in 2006, up from about $800 million in 2004. The report says that growth prospects for the legal collections segment will continue to grow at a similar pace over the next five years.