For third-party collectors, 2023 was a mixed bag. On one hand, inflation and economic uncertainty drove consumers to amass higher levels of debt — a favorable development for the industry. On the other, third-party collectors suffered from the same pernicious effects of inflation as other industries, with rising costs and staffing shortages dragging down growth.

To explore the year in more detail, download TransUnion’s new, in-depth market report prepared in collaboration with research firm Datos Insights. It provides insights into:

• How interest rate hikes impacted consumers’ outlooks on paying debts
• The big expenses firms must brace themselves for in 2024
• How collections agencies said they’re adjusting to current and emerging economic conditions
• The impact of artificial intelligence and machine learning

Get your copy today to learn what’s going on in the industry now, where we go from here — and how you can best position your organization for the future.