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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 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
$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 - Industry Locations Chapter

The geographic distribution of debt collection agencies largely reflects general economic and business activity. The spread is also virtually identical to the US population distribution and business support services. The majority of business operations are conducted over the phone, but local establishments help ensure that collectors can locate delinquent customers and merchandise. This factor is particularly important with auto loans and the repossession of automobiles.

The Southeast accounts for 21.4% of collection agencies. The credit crisis drove growth in the Southeast and West regions due to the recession's effect on housing prices and employment rates. The West is home to 16.2% of all US debt collectors, of which California accounts for 10.0%... 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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