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Violeta Zdravkovic was recently quoted in an article for Collector Magazine, a publication from ACA International. The article covered a recent webinar hosted by Barnes & Thornburg at which Zdravkovic was a panelist. During the webinar Zdravkovic said:
“The differences between this situation and prior downturns arise from the following drivers:
• COVID-19 happened quickly and led to a sharp economic downturn.
• While we had significant market volatility at the beginning of this downturn, the
markets are now doing well.
• The federal government pumped money into the economy, offering a $2 trillion stimulus package.
• Because of the pandemic, the hardest hit areas were entertainment, restaurant, hospitality, leisure and the retail sector.”
“The new PPP loans will help the hardest hit industries, but financial companies are gearing up for an acceleration of defaults in Q2 2021 and going into 2022. Government stimulus is helpful, however the solution is getting employees back to work and restarting commerce in a safe way.”
ACA International develops the most sought-after knowledge and expertly curated resources available in today’s complex credit and collection marketplace. The association serves companies and firms engaged in third-party consumer debt collection, billing and outsourced first-party debt collection, asset buying, judgment recovery, litigation, and collection or creditor defense, as well as credit professionals and vendor affiliates. To learn more about ACA International click here.