One of the paradoxes of this economic downturn is that the debt collection industry is taking in more accounts but still laying off thousands of workers. According to this article, there are a number of reasons why.

1. Even though collection accounts are up, debtor’s are not paying.
2. When debtor’s do pay, they are paying in extended payment plans and not making lump sum payments as they used to do.
3. The impact on the bottom line has forced the collection agencies to lay off thousands of employees.