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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 | Jul 2016

Pay up: Increased outsourcing of debt collection duties will support industry growth

IBISWorld’s Debt Collection Agencies market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$14bn
Annual Growth 11-16
0.8%
Annual Growth 16-21
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Profit
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Employment
134,065
Businesses
8,946
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 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 22.3% 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 16.3% of all US debt collectors, of which California accounts for 10.1%... 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


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