You are currently signed in as .
0 Items in Your Cart
Vault Guides are THE source for insider insight on career information and employer reviews. Shop Vault Guides
Industries & Professions /
Employment of bill and account collectors is projected to grow 15 percent from 2012 to 2022, faster than the average for all occupations, according to the U.S. Department of Labor (DOL). Demand for cash flow is causing businesses to hire more and more debt collectors. Also, America's debt is growing. Due to the relaxed standards for credit cards, more people, regardless of their financial circumstances, are able to get credit cards, make purchases on credit, and build up large debts they have difficulty repaying. The DOL also notes that the health care industry is one of the fastest growing employers of bill collectors and collection agencies; growth of 30 percent is expected for collection workers in this sector through 2022. This is largely because health insurance plans frequently do not adequately cover payment for medical procedures, and patients are often left with large bills that they have difficulty repaying. Economic recessions also increase the amount of personal debt that goes unpaid. Therefore, unlike many occupations, collection workers usually find that their employment and workloads increase during economic slumps.
Are you a student? You may have free access to Vault's premium content.
Contact your Career Center, Alumni Office or Library to find out more.