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Credit Repair Services in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Credit Repair Services Market Research Report | Advisory & Financial Services | Financial Intermediaries | Oct 2015

Card declined: As revenue falls, the industry will continue to compete with free online services

IBISWorld’s Credit Repair Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$6bn
Annual Growth 10-15
-5.3%
Annual Growth 15-20
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Profit
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Employment
135,701
Businesses
123,010
Industry Analysis & Industry Trends

Over the past five years, many internet-savvy consumers turned to an increasing number of free online services, hurting industry revenue. Additionally, aggregate household debt slowly decreased over the period, along with the national unemployment rate, lessening the need for industry services. Revenue for the Credit Repair Services industry will continue to decline in the five years to 2020. As the economy improves and the unemployment rate continues to decline, the growth of consumer debt levels is expected to grow at a slower rate. Consequently, there will be a narrower scope for growth in credit repair services in the coming years.... purchase to read more

Industry Report - Industry Locations Chapter

The Credit Repair Services industry is widespread and composed of a multitude of small, sole proprietorships that cater primarily to local and regional markets. As a result, the spread of industry establishments correlates highly with the spread of the overall US population. Thus, the Southeast, West and Mid-Atlantic regions will account for the highest share of industry establishments. The Southeast, which is home to about 25.4% of the population, will account for the highest share of industry establishments at about 26.2% and is anchored by Florida, which holds roughly 9.9% of establishments on its own. In the West, California dominates the landscape with about 12.0% of all industry establishments... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Credit Repair Services Industry?

This industry identifies errors in credit reporting and disputes inaccurate information with the appropriate organizations to improve credit ratings. These services are typically undertaken on behalf of a client who has known credit problems, such as a recent bankruptcy. This industry does not include nonprofit firms that offer credit-counseling services.

Industry Products
Credit repair consultationDispute processingCease and desist collections processingSettlement assistanceCredit reestablishment
 
Industry Activities
Credit repair consultationDispute processingCease and desist collections activitySettlements and credit reestablishment


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