Considering the current economic ups and downs, it’s natural to wonder how Americans feel about their outstanding debt and the agencies that collect it. According to Encore Capital Group’s 2025 Economic Freedom Study, which studied adults in both the US and UK, Americans are currently both trusting of collection agencies and interested in paying their outstanding debt.
Americans Surveyed Have High Credit Card Debt, but Want to be Debt Free
Of the US adults surveyed, 29% had outstanding debt, with 26% owing $25,000 or more. Credit card debt was the most frequent type, while medical debt, student loans, and utilities debt were also common.
“Economic freedom” was considered to be freedom from debt across all ages of US adults surveyed, at 27% each for Gen Z and Millennials, 25% for Gen X, and 30% for Baby Boomers.
Americans are Interested in Paying Outstanding Debts, Trust Collection Agencies More
An overwhelming 81% of American adults think outstanding debt should be paid off and, according to the report, they worked with collections agencies to do so at a higher rate (22%) than they did in Encore’s 2022 report.
Of the Americans surveyed, 45% have had contact with a collection agency (21% positively, an increase on 2022’s rate) and 47% “trust debt collection companies to help reduce debt,” especially consumers who are middle class, younger, and paying off shorter-term debt.
Choosing from several options, 41% of Americans surveyed agreed that offering “flexible payment plans” make collection agencies “responsible and ethical.” In addition, 38% of Americans think that collection agencies want those with outstanding debt to experience financial success.
How CBE Can Help Consumers Reach Financial Success
At CBE, we’re committed to building trust with both clients and consumers. Guided by our empathetic, ethical agents, consumers can get their finances back on track and set up for financial success with convenient payment plans payable through our smart IVR, online portal, or live voice calls. Clients can trust that their brand is in good hands with award-winning agent training providing an excellent customer experience, surrounded by a contact center environment held to high federal government security standards.