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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 can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

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 Key Buyers Chapter

Concentration in this industry is very low, with a large number of small operators, which include many nonemployers and small partnerships. In 2015, IBISWorld estimates that the majority of firms operating in this industry are nonemployers. The three-largest firms in this industry are expected to each make less than 5.0% of industry revenue. These online credit repair services are able to serve a large number of clients and do benefit from economies of scale through the use IT infrastructure for efficient payment processing. However, a large number of consumers still prefer face-to-face contact when hiring credit repair services and the industry has low barriers to entry. This trend has allowed nonemployers to remain prevalent in this industry... 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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