Kaulkin Ginsberg Company Expands its Service Offerings, Debt Buying within Financial Services Hasn’t Appeared this Attractive Since the Great Recession

GERMANTOWN, Md. -- Conditions for debt buying, specifically within the financial services industry, have not appeared this attractive since the Great Recession. Specifically, the debt buying segment’s revenue increased from under $2 billion in 2009 and 2010, to over $4.6 billion just five years later. That is why Kaulkin Ginsberg Company (KGC) has united with industry veteran Mike Chiodo to expand its advisory services to support this segment of the accounts receivable management (ARM) industry more extensively.

“Within the commercial banking sector, credit card net charge-offs grew by over 53.9% from $20.9 billion in 2015 to $32.1 billion in 2018; whereas credit union credit card net charge-offs more than doubled from nearly $800 million in 2013, to about $1.7 billion in 2018,” explains Jared Lese, director of research at KGC. “Since these two industries are among the primary originators of credit card loans throughout the U.S., we believe they’re somewhat representative of the financial services industry as a whole.”

“Although the credit card segment is experiencing greater bad debt levels and is a major contributor behind the decision to expand our service offerings,” explains Mike Ginsberg, president & CEO of KGC, “we’ve identified additional market segments, such as auto loans and FinTech, that may benefit.”

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