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The most up to date analysis of the American economy indicates that incomes are diminishing for those just starting out. The Collections Industry believes that this paradigm shift will be a permanent one.

Young adults are the most uninsured and underinsured demographic of any group in the United States. 30% of young adults are currently not insured. Even though the majority of uninsured young adults have jobs, a number of uninsured young adults work in low wage jobs and for employers who offer limited or no health care coverage.

With this much young adults already struggling to pay everyday expenses, debt collectors should step back and take a look at this situation. Uninsured young adults are two times as likely as those with private insurance to have no education beyond high school. That limits their future earnings potential.

Due to the financial crisis in 2008, stricter credit standards will most likely make it more difficult for a lot of young adults to pay for post graduate education or obtain loans for positive assets, like a house.

This as well as the new problem of cell phones, makes it harder than ever for collectors to get into contact with consumers. John Monderine, owner of Rapid Recovery Solutions believes that over 40 percent of his consumers do not have landlines.

Researchers in the field expect more methodical profiling systems will be made to help collection agencies in collecting those accounts where there is an active cell phone and information from bureaus to see if the debtor has a new address or phone number.

Many collection firms are getting ready for younger adults, attempting to use the ways that they like to communicate and do business. One collection company recently added an online system that permits debtors to make payments on the internet, rather than deal with a collector in person.

Mallory Megan is employed by a debt collection company. She also writes articles on business, finance, the credit industry and collection agencies.