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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 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 Key Buyers Chapter

The Debt Collection Agencies industry remains highly fragmented, with the top four businesses expected to account for less than 30.0% of industry according to IBISWorld estimates. Over half of the industry is comprised of sole proprietors and partnerships due to the industry's low barriers to entry. Market share concentration is expected to continue increasing over the next five years as companies look to mergers and acquisitions for increased revenue.

Acquisition activity is common in a mature marketplace, and IBISWorld projects that this trend will continue during the next five years as businesses focus on cutting costs and improving productivity. Companies will look to grow market share by acquiring smaller firms and their portfolios... 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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