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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 | Apr 2015

Paying off: Increases in collection rates and outstanding credit are expected to drive growth

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
$14bn
Annual Growth 10-15
0.7%
Annual Growth 15-20
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Profit
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Employment
132,864
Businesses
9,809
Industry Analysis & Industry Trends

During the five years to 2015, revenue for the Debt Collection Agencies industry is expected to increase marginally. Moving past the recession, growth in the industry has been tied to several distinct epochs. In the coming years, increases in collection rates and outstanding credit are expected to drive growth in the industry's revenue. As unemployment rates decline and the housing market recovers, consumers' ability to pay back outstanding loans will continue to boost recovery rates. Household debt and outsourcing services are also projected to continue increasing through 2020, supporting industry growth... purchase to read more

Industry Report - Starting a New Business Chapter

Overall, there are few barriers to entry in this industry. The industry is highly labor intensive, with wages accounting for most of the operating costs. The industry has relatively few major players and is highly fragmented demonstrated by the large number of companies in the industry. In 2015, IBISWorld estimates that there were 10,384 establishments in the industry, with the average establishment employing 13 workers. Starting a collection agency does not require significant technological investment, however this trend is slowly changing as technology becomes more important in reducing wage costs. Additionally, there are minimal overhead costs, since most expenses are variable and largely dependent on a company's willingness to advertise or aggressively seek delinquent consumers... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Debt Collection Agencies Industry?

The Debt Collection Agencies industry comprises businesses that pursue payments on debts owed by individuals and businesses. Most collection agencies operate as agents of creditors and render their services 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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