Telephone Bill Collector Boosts Take

Portfolio Recovery Associates Inc. reported a 14% increase in call center debt collections during the fourth quarter. It anticipates further growth in telemarketing debt collections through 2008 and beyond.

The company purchases and manages portfolios of defaulted consumer debt and operates call centers to collect as much of what’s owed as possible. The Norfolk, VA-based firm recently opened a new call center in Jackson, TN.

The company collected more money last year, but the average amount agents collected per hour declined. Total revenues in the fourth quarter of 2007 increased 17% to $57.3 million, compared to $49 million for the fourth quarter of 2006.

Portfolio Recovery reported its phone agents collected an average of $135.77 per hour in 2007, which was down from $146.03 the previous year.
Originally published in Direct newsline