Washington Post Runs Industry Rebuttal to Debt Purchasing/Collection Article

By Patrick Lunsford, CollectionIndustry.com

The Washington Post ran a rebuttal from industry advisor Mike Ginsberg in its “Letters to the Editor” section on Saturday, August 13th.

Ginsberg was responding to an article the Post ran on its front page on July 28 entitled “As Debt Collectors Multiply, So Do Consumer Complaints”. The main thrust of the Post article was that as more and more collection agencies and outside investors become involved with debt purchasing, the higher the demand is to recover the investment quickly, leading to dramatic increases in consumer complaints against the industry. CAMCO was used throughout the article as an example of this activity.

In his response, Ginsberg, who is CEO of industry advisory firm Kaulkin Ginsberg Company, points out that the collection industry is not only a vital part of the U.S. economy, but that the actions of a very small few do not make up the general behavior of the industry as a whole.

To view the letter on the Post’s web site, please visit http://www.washingtonpost.com/wp-dyn/content/article/2005/08/12/AR2005081201451.html.