Contact: Emil Hartleb, Executive Director, Commercial Collection Agency Association, P. O. Box 205, Cedar Grove, NJ 07009-0205. Telephone: (973) 239-0721, Fax: (973) 239-5017. E-mail: email@example.com
Emil Hartleb, Executive Director of CCAA, stated that in the first quarter of 2003, members of CCAA experienced a decline in account placement of approximately 18% in the dollars of accounts placed with them for collection. The numbers of accounts placed for collection also declined, by approximately 13%.
The accounts placed with CCAA members are business to business (B2B) accounts and not consumer accounts.
Mr. Hartleb indicated that this decline in account placement may indicate that the economic cycle has hit bottom or signaling the beginning of a recovery in the U.S. economy. He explained that commercial account placement is largely counter-cyclical in nature, rising when the economy is experiencing a down turn and declining at the bottom of the economic cycle and at the time of an incipient recovery.
Mr. Hartleb cautions, however, that there are still many problems in the business sector of the U.S. economy which may be reflected in some significant specific bankruptcy filings in the coming quarter. He cites the airline industry and telecommunications as being two significant weak spots in the business sector.
The Commercial Collection Agency Association (CCAA) is an association of 106 commercial collection agencies that have been CERTIFIED by the Commercial Law League of America. They represent the leaders in the commercial collection or business to business collection industry, handling about sixty-five percent of the commercial accounts placed for collection. The Commercial Law League of America is the nation's oldest creditors' rights organization, founded in 1895.
Members of the CCAA subscribe to a strict Code of Ethics and undergo an intensive and continuing certification process. For more information on CCAA, the certification process and its members, go to the Website: www.ccaacollect.com or call Emil Hartleb at (973) 239-0721.
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