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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 | Jun 2014

Paying off: Debtors had trouble paying out, but the economic recovery will return balance to the industry

The Debt Collection Agencies market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

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 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 21.7% 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 15.9% of all US debt collectors, with California accounting for 9.9%... 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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