Collections divisions at companies across industries are in the spotlight these days. And with the recent housing downturn and economic slowdown, collections needs are increasing at a staggering rate. According to Kaulkin Ginsberg, a Maryland-based market research firm, the U.S. now has more than 6,000 debt collection companies. According to the Federal Reserve, the consumer credit industry increased from $133.7 billion of consumer debt obligations in 1970 to $2.5 trillion of consumer debt obligations in November 2007, a compound annual growth rate of 8.2%. And the amount of outstanding revolving and non-revolving consumer credit increased at a compound annual growth rate of 6.4% from $1.3 trillion in June 1997, to $2.5 trillion in June 2007.