Credit Repair Services
Over the past five years, many internet-savvy consumers turned to an increasing number of free online services, negatively affecting industry revenue. Additionally, aggregate household debt was stagnant during the period, while the national unemployment rate fell dramatically, lessening the need for industry services. Revenue for the Credit Repair Services industry will continue to decline over the five years to 2023. The services offered by industry operators, such as dispute processing, cease and desist collections processing and settlement assistance, are becoming increasingly fulfilled by free online service providers. Additionally, the industry's negative reputation, stemming from historically deceptive practices, further encouraged consumers to improve their credit scores through other means.
This industry identifies errors in credit reporting and disputes inaccurate information with the appropriate organizations to improve credit ratings. These services are typically undertaken on behalf of a client who has known credit problems, such as a recent bankruptcy. This industry does not include nonprofit firms that offer credit-counseling services.
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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