Collection statistics

[DYLAN150]

I just saw these statistics on another site.

Collection agencies have a 14% successful collection rate.

80% of all judgments are uncollected.

A value of a uncollected dollar after five years is 1 cent.

[frogger]

That is pretty accurate. The older a debt is, the more difficult it is to collect. The last statistics that I have indicate that a debt that is 1 year old has a 12% probability of ever being paid.

[shark66]

A value of a uncollected dollar after five years is 1 cent.

In many states there's a four-year SOL and unless they have a judgment, a five-year old debt is downright worthless for the most part...

Sure, they can try and harass you over it, but you can take them to court for doing so...

Good luck to us all.