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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

IBISWorld’s Debt Collection Agencies market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

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 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 37.8% of industry revenue in 2014. The quantity and quality of employees is extremely important to industry performance. More employees means 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 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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