Strong Central Florida Economy Creates Renewed Debt Collections Opportunity

As the economy improves, it logically follows, so does the success of collection efforts.   Central Florida now leads the state in job growth.  For the debt collection industry, this means individual debtors are more likely to be able to pay their debts.   For corporate collection issues, it means that the businesses in the area are growing, and in a stronger financial position.   Florida Judgments are good for a full 20 years.  If you hold a Florida Judgment against a Central Florida business or individual, now might be the time to re-visit your collection efforts in enforcing that judgment.

  • For the 12 months ending May 2016, payroll employment rose 264,700. Not only is this very strong – second in the U.S. – but even more important than bragging rights, the May report is the first time in over nine months that the year-over-year job growth has accelerated.
  • Orlando continued to lead all metro areas for job growth in May, with payrolls up 4.5 percent over the past year and 51,900 new jobs added.
  • Sanford-Burnham’s recent announcement that it will leave its Lake Nona facility in the University of Florida’s hands likely will not have a major impact on Orlando. With UF stepping in, it is likely that many of the current scientific projects and researchers will remain. And the facility did fulfill one of its major functions – to attract other hospitals and healthcare providers to the area.
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