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A delinquent asset is a wasting asset
When financial obligations are satisfied:
Third party debt collection companies play an important role in ensuring accountability, reducing costs for lenders and providing valuable jobs. Because receivables decrease in value as they age, it is imperative that accounts receivables be managed effectively and in a timely fashion.
In a typical year, businesses, non-profits and government write off more than $150 billion in bad debt. Third party debt collectors recover more than $50 billion a year. The debt collection industry itself provides more than 400,000 jobs with a payroll in excess of $15 billion.
In 2010, 29% of adults ages 19-64 struggled with medical debt. NCC helps hospitals and their patients:
In 2009, municipal governments reported $40 billion in uncollected debt. Third party debt collectors recovered $6 billion in municipal debt for taxpayers. In 2009, the federal government reported $31 billion in uncollected debt. Third party debt collectors recovered $788 million for taxpayers. The vast majority of the states currently employ third party debt collectors to recover unpaid taxpayer dollars.