This is surely a sign of the times, folks: JobMonkey’s newest section is on debt collections jobs. Oh man, doesn’t that just speak volumes?
While many industries have seriously downsized during the last two years of economic recession, there is one industry that is doing quite well: Debt collection.
With unemployment hovering just under 10%, foreclosures on the rise and an skyrocketing increase in credit card charge-offs, the economy is ripe for debt collection growth.
In fact, I was just listening to the Dave Ramsey podcast, and he was discussing a recent article in the Wall Street Journal (sorry, I couldn’t find a link) about American’s debt-to-income ratio. There have been numerous reports lately touting the speed with which Americans are reducing their debt ratio. But according to the WSJ, this reduction is really smoke and mirrors — nothing more than some fancy mathematics.
It isn’t that Americans are paying off their debt faster; rather, it’s that banks, credit card companies, mortgage companies and others are ‘charging off’ their debt because they realize people aren’t going to pay them back. In short, Americans are not only still in debt — according to the WSJ, they are more in debt than ever before. What sounds like rather sad news for Americans might be good news, however, for those of you looking for a job in debt collections.
Are you worried that debt collectors are all slimy repo guys? They do have that reputation, don’t they? Well the truth is that there are upstanding debt collectors and practices — and they are hiring! From consumer collection agencies to commercial and medical bill collections, we’ve got it all covered on the JobMonkey.