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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 | Jun 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 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
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

In the 10 years to 2019, industry value added (IVA), which measure's the industry's contribution to the overall economy, for the Debt Collection Agencies industry is projected to increase at an annualized rate of about 0.6%, while US GDP is forecast to rise at an annualized rate of 2.7% over the same period. However, IVA is estimated to grow at an annualized rate of 1.8% over the next five years, fairly close to the rate of GDP growth. IVA is expected to grow faster over the five years to 2019 as the consumers balance sheet strengthen. This trend indicates that the industry is in the mature phase of its life cycle. Typically, an industry is considered to be in a mature phase of its life cycle when industry growth mirrors GDP over a 10-year period... 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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