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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 offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

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 Analysis Chapter

Credit repair firms help identify errors in credit reporting and help dispute the inaccurate information with credit reporting agencies. These services can be offered in person, online or over the phone, usually for a fee. Most advice relates to credit cards, personal loans and home mortgages. Conditions were ripe for industry growth right before the recession, with the amount of consumer debt increasing to record levels during the early 2000s. Nevertheless, the recession caused demand for credit repair to increase slightly in 2009 and 2010. Rising unemployment and falling disposable income led to an influx of debt problems for consumers during the recession, causing many households to turn to credit repair service firms for help with debt management... 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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