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Collectors earning over US$400k

Friday, July 06, 2012 - Posted by Philip Harvey

In the US, there are some debt collectors who are collecting student loan debts that earn over US$450,000. Reportedly 7 staff working for Educational Credit Management earned over US$400,000 through commissions, which are up to 31%. The CEO of the company reportedly earned over US$1 million.

Educational Credit Management is a not for profit group that works with the government to collect student loans that are in default.

Student debt in the United State has become a big issue, with the value now over US$1 trillion.

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