Is this the face you would have expected of a stereotypical debt collector?  That goes to show you just how much the real debt collection industry does not match its often maligned image.

A recent industry wide study by the ACA International (Association of Credit and Collections Professionals) concluded that the debt collection industry is incredibly diverse in terms of percentages of both women and ethnic minorities.   In general, women represent 47% of the working population in America.   Women, however represent 70% of the workforce in the collections industry.

Racial and Ethnic minorities account for 40% of the debt collection workforce.

Debt Collection agencies are 24% owned by women and minorities, and women owned agencies employ many more people than other women owned businesses by a huge margin.   Across all industries 89% of women owned businesses are single employee businesses, in the debt collection industry, the typical woman owned debt collection agency employs 22 employees.

ACA International CEO Patrick J. Morris concludes the research very accurately.

“The stereotype of the debt collector portrayed in the media is simply not true, and this is good for the industry as well as the consumer. More diversity in the collection agency workforce means more good ideas on how to fairly and amicably resolve accounts with a diverse consumer base.”

 

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