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Debt Collection Agencies in the US: Market Research Report

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

Debt Collection Agencies Market Research Report | NAICS 56144 | Nov 2014

Paying off: Debtors had trouble paying out, but the economic recovery will return balance to the industry

IBISWorld’s Debt Collection Agencies 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
Industry Statistics & Market Size
Revenue
$13bn
Annual Growth 09-14
1.3%
Annual Growth 14-19
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Profit
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Employment
142,772
Businesses
9,677
Industry Analysis & Industry Trends

After a rising tide of debt swamped the economy, collectability rates fell, canceling out the spike in debt collection opportunities and hurting revenue. However, the economy is set to recover over the next five years, with improving debt recovery rates, declining unemployment and higher housing prices. As a result, debt collection agencies will experience renewed demand, resulting in modest revenue growth... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Debt Collection Agencies industry is in the mature stage of its economic life cycle. The industry is characterized by a stable product segment, a declining number of establishments and industry value added (IVA) growing at a slower rate than the US economy. IVA which measures an industry's contribution to the overall economy, is expected to increase at an annualized rate of 0.7% over the 10 years to 2019. In contrast, US GDP is forecast to increase at an annualized rate of 2.5% over the same period. An industry whose IVA is growing at a slower rate than the US economy is typically characterized as an industry in the mature stage of its economic life cycle.

Demand for industry services is largely driven by the amount of aggregate debt households have... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Debt Collection Agencies Industry?

The Debt Collection Agencies industry includes businesses that pursue payments on debts that individuals and businesses owe. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed. Other agencies purchase debt portfolios from creditors at deep discounts and then pursue outstanding balances for their own gain.

Industry Products
Contingent-fee servicingFixed-fee servicing Portfolio acquisitionCollateral recovery and repossession servicesCredit rating services
 
Industry Activities
Account collection servicesBill collection servicesDebt collection servicesDelinquent account collection servicesTax collection services on a contract or fee basisCollection on debt portfoliosRepossession servicesCredit reporting services


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