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Pay up: Increased outsourcing of debt collection duties will support industry growth



Abstract

Debt Collection Agencies in the US

Over the five years to 2016, revenue for the Debt Collection Agencies industry is expected to fall. Moving past the recession, growth in the industry has been tied to several distinct epochs. Initially, the high rate of credit defaults in 2011 and 2012 created an influx of industry demand. With consumers still cautious in 2013, despite rising aggregate household debt, industry revenue slightly declined. From 2013 onward, households began to more readily assume debt yet industry revenue continued to decline. This is partly attributed to more stringent supervision from the Consumer Financial Protection Bureau (CFPB) and lower recovery rates. As the deleveraging process wrapped up, aggregate household debt is expected to strengthen over the five years to 2021. However, the regulations that have been proposed by the CFPB are also likely to come to full fruition over the next five years. As a result, IBISWorld expects industry revenue to continue declining over the five years to 2021. Moreover, IBISWorld forecasts 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 deep discounts 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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Table Of Contents

Debt Collection Agencies in the US - Industry Market Research Report

TABLE OF CONTENTS

ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS and MARKETS
Supply Chain
Products and Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS
Capital Intensity
Technology and Systems
Revenue Volatility
Regulation and Policy
Industry Assistance

KEY STATISTICS
Industry Data
Annual Change
Key Ratios

JARGON and GLOSSARY



MAJOR COMPANIES

Encore Capital Group

Portfolio Recovery Associates Inc.

Expert Global Solutions

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