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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 SWOT Analysis Chapter

The Credit Repair Services industry is in the declining stage of the industry life cycle. In the 10 years to 2020, IBISWorld estimates that the industry's contribution to the overall economy, as measured by industry value added (IVA), will decrease at an average rate of 1.3% annually, whereas annualized GDP growth of 2.2% is expected over the same period. Although the industry has grown since the early 2000s, when consumers accumulated record levels of debt, it slowed in more recent years as consumers found alternatives to seeking industry services.

Industry products and services have remained the same... 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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