First Quarter Collection Performance Solid, According to Survey

In preliminary results from insideARM’s Credit & Debt Collection Industry Confidence Survey for the first quarter of 2009, respondents have indicated that performance was up in the first quarter, but has dropped off since.

With nearly 350 participants so far, the first quarter’s survey results are beginning to take shape. There is data evidence to suggest that collectors benefited from tax refund season, but that before that period began — and since it has ended — times were tough.

More than 45 percent of respondents so far said that collection performance was strong or very strong in the first quarter. But the number drops to 39.5 percent when judging current performance (the survey launched on April 7).

Interestingly, 29.1 percent of respondents reported strong or very strong current performance in the fourth quarter survey, which was conducted in January. This would seem to indicate that performance picked up in February and March, prime months for tax refunds. Performance has dropped off in April.

The survey is still open and we encourage all who have not taken the few minutes to complete the survey to please do so. We will be closing the survey next week.