Dublin, Dec. 20, 2022 (GLOBE NEWSWIRE) — “The US Debt Collection Agencies Industry: Data Pack” report from Marketdata LLC has been added. ResearchAndMarkets.com’s offering.
This bestseller by Marketdata examines the $15 billion business of debt collection agencies. Consumer complaints about harassment by collectors remain at the top of the list of complaints to the FTC.
Federal and state regulations have reduced recovery rates, resulting in slow growth. However, the Covid-19 pandemic did not hurt this business, as consumers used stimulus payments and enhanced unemployment benefits to pay off their debts in 2020.
Collections of 3,200 mostly small businesses is a fragmented business. Industry consolidation continues, and the business has become attractive to investors.
Technology such as artificial intelligence is making businesses more efficient. Collections are moving offshore and the outsourced IRS debt market has grown.
The study examines industry revenue/growth, consumer debt trends and demand factors, extensive operating ratios, etc. Covers national income/growth (2002-2017 actuals, 2019, 2020, 2021 estimates, 2022 & 2025 forecasts), comprehensive Census data industry working ratios (national, state, city). The study examines consumer debt and bankruptcy trends, major market segments and more.
Includes a Reference Directory of industry trade associations, journals, reports and other sources.
This report contains 55 pages and 26 tables and charts.
Main Topics Covered:
Introduction: Methodology & Sources Used
Nature & State of the Industry Report
- Business definition & characteristics: history & development, Census NAICS codes, Industry status
- List of primary demand factors
- The effects of the Covid-19 pandemic
- Discussion of major complaints about collection harassment and unethical/illegal practices, privacy issues.
- 2020 results from the Consumer Financial Protection Bureau: Number and type of complaints, compared to 2018.
Table:
- 2020 no. consumer complaints by type
Demand Factors
- Key factors affecting demand for services
- State of industry in 2021, talk of contraction, shrinking profits, big challenges for businesses
- The impact of the Covid-19 pandemic 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 causes, regional differences
- Growth in the debt-to-buy market.
Tables:
- Consumer credit outstanding and finance rates: 1998-2021
- US non-commercial bankruptcies (Chapters 7, 11, 13): 1991-2020
Industry Size, Growth, Segments & Forecasts
- Demand Indicators: growth in the value of “arrangements” (Amer. Collectors Assn.), data limits, opinions, how to recession-proof the business?
- Data sources on industry revenue estimates at: US Census Bureau, Kaulkin Ginsberg, ACA, PriceWaterhouseCoopers, IRS, Marketdata
- The role of the IRS and the use of PCAs (private collection agencies), 2020 $ amount sent
- Historical industry revenue growth – analysis from the early 2000s, the Great Recession, after all
- The impact of the pandemic on growth: an analysis of 2019-2020
- Industry performance 2021 – analysis, Marketdata opinions, Kaulkin Ginsberg
- Forecasts 2025 – analysis, opinions Marketdata, Kaulkin Ginsberg
- Analysis of commercial actions vs. consumers, 2020 estimates $
- Estimated value of consumer, medical, government, commercial markets – 2020
Tables:
- Industry revenue (2002-2017 Census), Marketdata estimates/forecasts for 2019, 2020, 2021 and 2025 forecasts ($ value, % changes)
- Industry receipts from: consumers, healthcare, government, other retail/commercial actions. (2017)
Industry Economic Structure & Operating Ratios
- Summary, discussion of: Census survey data – no. of services, annual receipts, payroll costs, avg. receipts per firm/establishment, legal form of firms, levels of concentration for the 50 largest firms, single operations vs. multiple units, services by receipts, size of individual firms & establishments, top 10 states (mkt. potential, $ value of receipts) , avg. receipts per service, by state
- 15 year industry insight – 2002-2017, key ratios.
Tables:
- Industry overview: 2002, 2007, 2012, 2017 – Basis., receipts, top 50 mkt. share, etc.
- Payroll as % of receipts – 2007, 2012, 2017
- Sales/payroll employee productivity ratios – 2007, 2012, 2017
- Average revenue per site., no. of employees – 2007, 2012, 2017
- Top 10 states by revenue – 2007 vs 2019
- Legal format – corporations, partnerships, sole proprietorships (number of establishments, receipts, payroll as % of receipts, average amount of receipts (2017, 2012)
- Concentration ratios: 4, 8, 20, 50 largest firms (number of firms, revenue, as % of total industry, payroll, number of workers (2017, 2012)
- Sole proprietorships vs. multi-unit (facilities 1, 2, 3-4, 5-9, 10+) no. of firms, estabs., receipts, avg. receipts, payroll costs (2017, 2012)
- Amount of annual receipts of FIRMS, measures as above, 11 classes of amount of sales from $100 mill. to less than $10,000 (2017, 2012)
- Amount of annual receipts of individual ESTABLISHMENTS, ratios as above, 11 classes: $10+ mill. to under $10,000 (2017, 2012) State analysis: Number of total adjustment & collection services, receipts, avg. receipts per establishment, % of national receipts
- for 50 states (2019)
- State analysis: Total number of adjusted & collection services, receipts, average number. receipts per site., ranked by no. of scat. (2019)
- Stabs. & receipts, by major city (2017)
Reference Directory of Industry Information Sources
- Name/address/telephone/primary contacts of credit and collection trade groups, journals, magazines, directories, federal and state agencies, etc.
Note:
Data Package report mainly consists of statistical tables and charts, with moderate analysis and discussion. The report does not contain in-depth competitor profiles or in-depth discussions of industry trends, issues and regulation. Rather, it covers industry definition, structure, $ size/growth, and key operating ratios and metrics (national & state).
For more information about this report visit https://www.researchandmarkets.com/r/a5dali
