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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 | Jul 2014

Pre-approved: 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 09-14
-3.8%
Annual Growth 14-19
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Profit
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Employment
140,980
Businesses
127,894
Industry Analysis & Industry Trends

Most industries in the United States went down with the ship during the recession, but the Credit Repair Services industry was not one of them. As consumers credit scores dropped in the face of late payments due to unemployment and reduced income, industry demand rose at a brisk pace. As the recovery got under way in 2010 and 2011, that growth moderated, but increasing revenue is still expected throughout the next five years.... purchase to read more

Industry Report - Starting a New Business Chapter

Given the industry's low concentration and low investment requirements, its barriers to entry are considered low. However, the increasingly strict regulation of credit repair services has led to increasing barriers for reputable companies.

Although low concentration and investment requirements make it relatively easy for small start-up firms or individual proprietorships to enter the industry, success is not guaranteed. Many firms rely on reputation and word-of-mouth recommendations to win new business. For a new firm, establishing a strong reputation and network can take considerable time, presenting a potential barrier to entry. In spite of this, the lack of big name competitors diminishes the importance of having a brand-name enterprise... 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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