Debt Collection Agencies in the US - Industry Market Research Report

Debt Collection Agencies in the US - Industry Market Research Report
Debt Collection Agencies in the US

Debt collection agencies bounced back from COVID-19 moratorium policies and the increased Consumer Financial Protection Bureau (CFPB) supervision that hammered revenue in 2020. Increased aggregate household debt and strong per capita disposable income favored higher collection rates. Low interest rates stimulated borrowing, bringing substantial revenue increases post-COVID. Revenue has grown at a CAGR of 1.6% to $20.2 billion through the end of 2023, including a 0.1% decline in 2023, when profit will reach 13.0%

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 percentage of the total amount owed. Other agencies purchase debt portfolios from creditors at a discount and then pursue outstanding balances for their 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.