October 27, 2020 Blog
Positive Contributions of the ARMs Industry
As debts such as fees, loans and taxes go unpaid, businesses are faced with reduced profit margins, such as governments being faced with budget deficits. This can result in consumers suffering the most, as it is more difficult for them to access affordable credit, products and services with prices increasing due to unpaid debt. Below is some of the most recent data regarding the ARM Industry and its positive contributions to the economy.
“ARM firms collected nearly $102.6 billion in debt, with a recovery rate of 11.1% of face value.”
- Total net debt returned to creditors amounted to nearly $90.1 billion
- This represents roughly $706 in savings per household.
- ARM firms contributed an estimated $108.3 million to charity.
- ARM employees offered roughly 524,000 hours of their time to volunteering – including 229,800 hours for company-sponsored activities.
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