Abstract
This newly updated bestseller by Marketdata examines the $12 billion business
of debt collection agencies. Complaints by consumers about harassment by
collectors still exists and tops the list of complaints to the FTC. With the
recession, it has gotten worse, since it has become more difficult to collect
on (liquidate) accounts. Many consumers are out of work or struggling to pay
for the necessities and have no funds to repay debts.
Collections is a fragmented business of 6,500 mostly small firms. Major
consolidation has taken place amongst collections agencies since the late
1990' s, and one firm, NCO Financial Systems, now accounts for $1.5 billion in
sales, by virtue of acquiring its biggest competitor (OSI Solutions).
Technology is making firms more efficient and profitability had risen until
the recession hit. After a period of strong growth from 1999-2004, top-line
revenue growth has slowed substantially - only 1.6% last year. Future growth
will have to come from untapped niche segments such as healthcare accounts,
legal, cell phone bills, municipal government, and outsourced IRS tax debt.
The study examines industry revenues/growth, competitor profiles/rankings,
consumer debt trends and industry issues, extensive operating ratios, etc.
Covers national revenues (1987-2007 actual, 2008 & 2009 estimates, 2013
forecasts), latest Census data industry operating ratios. The study examines
consumer debt trends, the debt buying market, outsourcing, status of IRS tax
debt business, market segments, delinquencies and bankruptcy trends, and more.
Contains 160 pages, 47 tables and charts.
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