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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 SWOT Analysis Chapter

The Debt Collection Agencies industry is in the mature stage of its economic life cycle. The industry is characterized by a stable product segment, a declining number of establishments and industry value added (IVA) growing at a slower rate than the US economy. IVA, which measures an industry's contribution to the overall economy, is expected to increase at an annualized rate of 0.8% over the 10 years to 2020. In contrast, US GDP is forecast to increase at an annualized rate of 2.5% over the same period. An industry whose IVA is growing at a slower rate than the US economy is typically characterized as an industry in the mature stage of its economic life cycle.

Demand for industry services is largely driven by the amount of aggregate debt households have... 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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