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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 | Jul 2016

Pay up: Increased outsourcing of debt collection duties will support industry growth

IBISWorld’s Debt Collection Agencies market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$14bn
Annual Growth 11-16
0.8%
Annual Growth 16-21
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Profit
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Employment
134,065
Businesses
8,946
Industry Analysis & Industry Trends

Performance in the Debt Collection Agencies industry is largely driven by the overall availability of collection opportunities (i.e. the number of defaulted accounts that an agency services). Growth in the industry over the past five years is the result of increased opportunities resulting from high delinquency levels at the start of the period. In the coming years, increases in collection rates and outstanding credit are expected to drive growth... purchase to read more

Industry Report - Industry Investment Chapter

Investment requirements largely depend on the size of the operation and the amount of information technology that a firm is seeking to use. The industry is largely labor intensive with wages accounting for nearly 39.5% of industry revenue in 2016. The quantity and quality of employees are extremely important to industry performance. More employees mean that an industry participant can be more thorough in collection procedures, which directly increases revenue. But it is not simply the total number of employees that is important; it's also the quality of the training each employee receives... 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 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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