Debt Collection Agencies in the US - Industry Market Research Report

Debt Collection Agencies in the US - Industry Market Research Report

  • December 2020 •
  • 54 pages •
  • Report ID: 199113 •
  • Format: PDF
Past due: Increased regulation to curtail aggressive collection tactics will likely limit revenue growth

Abstract

Debt Collection Agencies in the US
Over the five years to 2019, revenue for the Debt Collection Agencies industry is expected to contract. Overall, the level of debt in the United States has increased slightly during the five-year period as the Federal Reserve raised interest rates several times. This regulatory behavior encourages households to take on more debt while rates are still relatively low. However, rates are expected to plateau and remain at historically low levels. Over the five years to 2024, aggregate household debt is expected to increase. However, IBISWorld forecasts that only the largest establishments will be able to take advantage of these opportunities, as rising regulatory costs will limit the number of smaller operators entering the 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 a discount and then pursue outstanding balances for their own gain.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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