A Walk Down Memory Lane: A Fascinating Look at the Collection Industry as it was in 1995

Stephanie Eidelman

The 1995 Kaulkin Report (known then as the “Collection Industry Report”) is a veritable walk through history of some of the major events that have led us to where we are today, including — just to mention a few — deregulation of the telecommunications, utilities, and banking industries.

The report contains a particularly prescient discussion of the pending evolution in telecommunications towards 3-4 major “supercarriers.”

You’ll see collection agencies mentioned — the biggest, and public ones of the time — that don’t exist today, at least not under the same name, and no longer as public companies.

The Dept of Education collection program makes an appearance… with just eight firms collecting on its behalf.

Read about the beginning of off-shoring, debt purchasing, and discussion of an impending IRS collections contract.

You’ll get a sense for the growth of the industry, which in the mid-1990’s reportedly returned $16 billion to creditors; according to a 2008 economic impact study of the collections industry conducted by PricewaterhouseCoopers LLP, that number now exceeds $40 billion.

And you’ll read about pending legislation.  Yes, it was happening then too!  Remember the Debt Collection Act of 1995, HR 2234?

As we sit in the center of a new wave of significant regulatory change, it’s compelling to take a look back. How have these changes affected your business over the past fifteen years, and what do you think will characterize the next fifteen?

We will come back to this topic in future articles.  For now, take a walk down memory lane.  As part of its 20th anniversary year in the collection industry, Kaulkin Ginsberg has posted some gems from the archives, including the 1995 Kaulkin Report (which we promise is a compelling and quick read).  If you’ve met Marvin Kaulkin, you’ll enjoy his hair-do.

Stephanie Eidelman is the Publisher of insideARM.com. She can be reached by email.