This survey was conducted during the first quarter of 2019. More than 100 companies of all shapes and sizes participated in the survey. The objective of the survey was to assess the penetration of digital communication tools and how much they are being used by companies in the credit and collection industry to communicate with individuals who have unpaid debts.
This survey was taken before the Consumer Financial Protection Bureau released its proposed debt collection rule, which includes some provisions for communicating using digital technologies. It is expected that the usage of digital communication channels will increase as companies become more comfortable with the risks associated with these communication tools.
What follows are the results of the survey. In most cases, the data has been broken out by size of the company, to provide some benchmarking opportunities.