There is churn in there. What we can tell you is that when you get into the age and balance of an account, a lot of these new balances are actually added to previous accounts. It's like a visa bill that you haven't fully paid, so they add to that and collect money on that. Then the question is which part of the debt you collected. Is it LIFO or FIFO? And you get into all of these accounting debates.
The purpose of the message is that every year we get about 440,000 accounts and we collect about $8 billion to $10 billion. The money we collect in one year is money that's associated with new accounts, older accounts, accounts that are five years old, four years old, three years old. It's whatever we can collect on all of the outstanding portfolio.
As one of the members pointed out, it's obvious that the younger the debt, the more success we have in collecting it. Those are debts that go to collectors. There are more debtors who pay on the basis of a letter. There are debts that are paid on the basis of a call from the call centre. Those never go to agents. What I'm talking about today is 4,000 collectors collecting about $9 billion to $10 billion a year.