SEARCH   
MEMBER LOGIN    

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 | Jan 2016

Pay up: Increased outsourcing of debt collection duties will support industry 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 11-16
1.4%
Annual Growth 16-21
Add to Cart
Profit
Add to Cart
Employment
137,433
Businesses
9,470
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 Products Chapter

Contingent-fee servicing

Contingent-fee servicing is forecast to generate 54.5% of industry revenue and is the most widely used method for recovering income on nonperforming or delinquent debt accounts. Under the system, creditors write off loans or place them with collection agencies after accounts are deemed uncollectible. Then, collection agencies are paid a fee calculated as a percentage of the amount of debt recovered on these uncollectible accounts.

Receivables are generally valued on the creditor's balance sheet at a discount, with reserves established to hedge against the possibility of non-collection. The commission rate for contingent-fee services is generally based on the degree of collection difficulty... 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


View Sample
Quote
Select Clients