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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

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
$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 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 37.3% of industry revenue in 2015. 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 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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