A new report published by TransUnion on January 15, 2025, revealed that more than half (52%) of debt collection companies experienced an increased volume of accounts placed or acquired over the last 12 months. Despite this, the collectability of these accounts has decreased since 2020.
In response to these challenges and rising concerns about data security and compliance, 52% of debt collection agencies are making significant investments in technology. The number of debt collectors investing in AI/ML grew from 11% in 2023 to 18% in 2024, with top applications including predicting and segmenting accounts.
The report also noted a shift in communication channels, with email and text/SMS messaging growing in use, driving consumers to self-service online payment portals. These trends underscore the relevance of TransUnion’s TruContact™ Trusted Call Solutions, which help debt collectors optimize outreach and engagement.
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