|
United States Debt Collection Agencies Market Report 2022: A Fragmented Industry with 3200 Mostly Small Firms
Thursday, March 24, 2022
DUBLIN, March 16, 2022 /PRNewswire/ -- The "U.S. Debt Collection Agencies: An Industry Analysis" report from Marketdata LLC has been added to ResearchAndMarkets.com's offering.
https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
This newly updated bestseller by Marketdata examines the $15 billion business of debt collection agencies. Complaints by consumers about harassment by collectors still exists and tops the list of complaints to the FTC. Federal and state regulations have reduced recovery rates, resulting in slow growth. However, the Covid-19 pandemic really didn't hurt this business, as consumers used stimulus payments and enhanced unemployment benefits to pay down their debts in 2020.
Collections is a fragmented business of 3,200 mostly small firms. Industry consolidation continues, and the business has become attractive to investors.
Technology such as artificial information is making firms more efficient and skilled collectors are in high demand. Collections is moving off-shore and the outsourced IRS debt market has grown.
Key Topics Covered:
The study examines industry revenues/growth, consumer debt trends and industry issues, regulation, extensive operating ratios, etc. Covers national revenues/growth (2002-2017 actual, 2019, 2020, 2021 estimates, 2022 & 2025 forecasts), exhaustive Census data industry operating ratios (national, state, city).
The study examines consumer debt trends, bankruptcy trends, the debt buying market, outsourcing, major market segments and more.
Competitor profiles for: TransWorld Systems, Encore Capital, The Kaplan Group, Alorica Global Solutions, and Portfolio Recovery Associates are included.
Nature & Status Report of the Industry
-- Definition & characteristics of the business: history & development,
Census NAICS codes, how services operate, no. of services
nationwide/recent consolidation/mergers
-- Status Report: declining no. of agencies in U.S., effects of the
pandemic
-- Demand factors
-- Industry trends: profit margins, offshoring, consolidation, adaptive
learning systems:
-- Collection Techniques: discussion of "traditional" collection techniques
& how agencies operate (letters, phone calls, legal action, skip
tracing, use of operatives), what methods work best, current recovery
rates, contingency fees, customer specializations.
Consumer Complaints, Industry Regulation
-- Discussion of major complaints about collection harassment and
unethical/illegal practices, privacy issues.
-- 2020 findings of Consumer Financial Protection Bureau: No. and type of
complaints, compared to 2018
-- Industry regulation, by: 1977 Fair Debt Collection Practices Act,
Telephone Consumer Protection Act (1991), Fair Credit Reporting Act
(1970), Health Insurance Portability and Accountability Act (1996).
-- Regulatory bodies: FTC, FCC, CFPB
-- CFPB Annual Report 2021: Debt Collection Highlights, new rules
explained.
Major Industry Trends
-- Summary: major factors affecting demand for the industry
-- Industry status in 2021: consolidation - declining no. of firms, decline
in profits, challenges for various aspects of the business (TransUnion
survey data)
-- Summary: Types of consumer debt held by type ($ amount: student loans,
medical, credit card, mortgages, auto loans)
-- 2019 major debt collection trends: compliance, technology, worker
skills, company cultures, top 9 collection agency trends for 2019
-- Discussion of: industry & client consolidation, the emergence of
artificial intelligence,
-- The Covid-19 pandemic's impact on debt, by population segment
(Millennials, Baby Boomers, Gen X, etc.)
-- Bankruptcy trends: personal vs. business, discussion of Chapter 7, 11,
13 types, peak levels and reasons, regional differences
-- Growth of the debt buying market.
-- Findings of latest Kaulkin Ginsberg research/reports
-- Emerging collection technologies - integration of
computer/telecommunication systems, pre-authorized draft printing
(leading firms, how service works, software vs. service bureau
approaches), skip tracing, predictive dialling, check verification &
computer databases.
Companies Mentioned
-- Transworld Systems (incl. NCO Group, Altisource)
-- The Kaplan Group
-- Encore Capital Group (incl. Midland Credit Management)
-- Portfolio Recovery Associates
-- Alorica Global Solutions (incl. Expert Global Solutions)
For more information about this report visit https://www.researchandmarkets.com/r/7jd70l
Source: Marketdata LLC
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:https://www.prnewswire.com/news-releases/united-states-debt-collection-agencies-market-report-2022-a-fragmented-industry-with-3200-mostly-small-firms-301503362.html
SOURCE Research and Markets
|
|
|
|
|
|
 |
The New Identity Theft Crisis: AI Scams, Child Victims, and Credit Damage Are All Spiking | Jan 22, 2026
|
|
AllSci Launches Hypothesis Publishing: A Seamless Way to Share, Connect, and Advance Scientific Ideas | Jan 22, 2026
|
|
Canadian Fintech Tuhk Inc., Founded by Ethoca and NuData Security Veterans, Raises US$6 Million Seed Round Led by FINTOP, with Lloyds Banking Group and Capital One Ventures | Jan 22, 2026
|
|
Darwin CX Caps a Banner Year with AI Launch, Sold-Out Events, and Industry Book Launch | Jan 22, 2026
|
|
PayDo Launches Unified Payment Infrastructure Suite for Digital Businesses | Jan 22, 2026
|
|
Fintech Startup BON Credit Secures $3.5 Million In Funding | Jan 22, 2026
|
|
Nudge Security Unveils Industry's Most Comprehensive AI Security Governance Platform | Jan 22, 2026
|
|
IoTeX Publishes MiCA-Compliant Whitepaper for IOTX, Enabling EU-Wide Alignment Under the New Regulatory Framework | Jan 22, 2026
|
|
TSX Venture Exchange Market Data Now Available Across Over 40 Blockchains via Chainlink | Jan 22, 2026
|
|
Paxos Selects Mesh To Enable Trusted Crypto Deposits | Jan 22, 2026
|
|
|
|
