Latest Posts
Home > Debt Relief Industry > Who is Most Likely to Work With a Debt Settlement Company

Who is Most Likely to Work With a Debt Settlement Company

InsideARM recently released information from an industry survey they conducted regarding what part of the debt collection industry is more likely to work in cooperation with debt settlement companies.

They survey 649 creditors, collectors, debt buyers and legal recovery firms to ask about their perception or willingness to work with debt settlement companies.

The survey indicated a growing willingness to work in cooperation with debt settlement companies to recover funds but there were some clear differences between the various vertical niches.

Debt collection agencies outnumbered debt buyers 3:1 in their cooperation with debt settlement offers and legal recovery firms 4:1. Ironically, original creditors ranked lowest in the different segments surveyed.

It appears from the results of the survey, as well as the numerous comments provided by respondents, that the concerns about reputational credibility of the industry and the past practices by bad actors (now legislated in a manner designed to strictly mitigate future offenses) has taken a back seat to liquidation performance and concerns around data security, privacy, compliance, and the FDCPA. The top three reasons provided for not working with the debt settlement industry related to these issues while concerns around reputation came in fourth, with only 13% of participants stating reputation as a concern. – Source

For more information on the survey and to download the survey, click here.


Get Out of Debt Guy – Twitter, G+, Facebook

Need More Help?

Get Out of Debt Free Hotline
debt settlement helpstudent loan help

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Charles

    The collection industry wins the FTC championship hands down, taking first place for consumer complaints year after year after year. It’s actually pretty funny that the ARM industry has a problem with the “reputation” of the settlement industry? Pot, meet kettle. :-)

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.


I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.