Over US$57,000 per second was spent on Credit throughout the United States in 2009. There was approximately $1.4 Trillion of US credit card debt in September 2009, of which 34 Million people were late in payments. The amount of charged off credit card debt has grown from $22.6 Billion in 2007 to over $100 Billion in 2010. It makes sense for the major banks and financial institutions to be selling their non-performing loans when you consider that the entire US debt collection industry is only sized for a capacity of around $25 Billion!
A combination of industry experience, commitment to legislative compliance, sophisticated data analysis systems and a customer-centric collections approach has BMS Global Assets positioned well in the current economic climate.
