Debt Collection Agencies in the US
Over the five years to 2018, revenue for the Debt Collection Agencies industry is expected to contract due to tightening regulations from the Consumer Financial Protection Bureau. For the first two years of the period, consumers continued deleveraging as they had in the immediate wake of the recession. From 2015 onward, although households began to readily assume debt, industry revenue continued to decline. This is partly attributed to more stringent supervision from the Consumer Financial Protection Bureau and lower debt recovery rates. Regulation is expected to tighten further over the five years to 2023, and, as a result, industry revenue is projected to continue to decline.
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.