About the Debt Collection Agencies in Michigan Market Research Report
What’s Included in the Debt Collection Agencies in Michigan Market Research Report
Definition of the Debt Collection Agencies in Michigan?
The Debt Collection Agencies industry comprises businesses that pursue payments on debts owed by individuals and companies. Most collection agencies operate as agents of creditors and render their services for a fee or a percentage of the total amount owed. Other agencies purchase debt portfolios from creditors at a discount and then pursue outstanding balances for their gain.
What’s included in the Debt Collection Agencies in Michigan?
The Debt Collection Agencies in Michigan includes contingency collections services by letter and mail, other contingency collection services, early-out receivables services, portfolio acquisition and credit rating reports. Related terms covered in the Debt Collection Agencies in Michigan industry report includes credit unable to be used after payment, including auto, home and student loans, credit lacking a fixed number of payments that can also be used again after payment, such as credit cards, collection work associated with collecting information that assists collectors in locating delinquent debtors, also known as a recovery rate, this rate is calculated by subtracting recovered income from total outstanding debt. the higher the rate, the greater percentage of income recovered, an account that is between 90 and 270 days past due and has the highest recovery rates and lowest commissions, an account between 270 and 360 days past due and has already been recalled from a primary collection agency, an account 360 days past due, which has the lowest recovery rates and highest commissions. it has generally been recalled from one or more collection agencies and money owed to a company for goods or services it has sold.
Industry Performance of the Debt Collection Agencies industry in Michigan
Benchmark the Debt Collection Agencies in Michigan industry performance with all MI county and national performance.
Debt Collection Agencies in Michigan
#21 in Highest Revenue 1.8% of state's GDPRevenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)
Debt Collection Agencies in the US
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)
For the full list of industry drivers, see report purchase options.
Key Drivers of the Debt Collection Agencies industry in Michigan
See how key industry drivers, such as new business formation, population, unemployment rate, per capita disposable income, consumer price index and aggregate household debt are impacting Debt Collection Agencies in Michigan
Michigan Economic Indicators
New Business Formation
Population
Unemployment Rate
View more economic information in MI State Economic profile
US Key External Drivers
Per capita disposable income
Consumer price index
Aggregate household debt
For the full list of industry drivers, see report purchase options.
County Data of the Debt Collection Agencies industry in Michigan
Access proprietary data on county in the Debt Collection Agencies in Michigan, such as Oakland County, Wayne County and Kent County. Data includes figures on revenue, establishments, employees and wages by counties.
Key Statistics of the Debt Collection Agencies industry in Michigan
Download 18 years of historical data and 5 years of projected performance.
