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Debt Relief Services in the US Industry Data and Analysis
Revenue for debt relief service companies has displayed volatility during the current period. Demand for the industry's services often surges during bad economic times because businesses and individuals have trouble paying their debts. This didn't happen during COVID-19 despite the massive recession because of record-low interest rates and soaring per capita disposable income. These factors enabled consumers to pay their bills and avoid going into more debt, hindering demand for the industry's services and causing revenue to plunge in 2020. When the economy recovered from the pandemic, households used their cash to flock to newly opened stores, restaurants and other businesses, causing corporate profit to surge. Elevated corporate profit kept businesses out of financial ruin, so spending on debt relief services from the commercial sector hindered the industry's performance in 2021. Revenue recovered in 2022 and 2023 as rising interest rates made it more difficult for businesses and individuals to pay off their existing liabilities. Overall, revenue for debt relief service companies is expected to plunge at a CAGR of 6.1% during the current period, reaching $21.5 billion in 2024, including a 5.0% drop in that year.
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What's included in this industry analysis
IBISWorld's research coverage on the Debt Relief Services industry in the United States includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released January 2024.
About this industry
What's this industry report about?
The Debt Relief Services industry in the United States operates under the NAICS industry code OD6282. Debt relief service providers buy, pool and repackage debt for resale to others on the secondary market. Products include providing loans to households and businesses, trading debt instruments, securities origination and other services. Related terms covered in the Debt Relief Services industry in the United States include mortgage-backed securities, collateralized debt obligations, mortgage origination, payday loan and initial public offering.
What's included in this industry?
Products and services covered in Debt Relief Services industry in the United States include Trading debt instruments, Loan services to consumers and Loan services to businesses.
What companies are included in this industry?
The Debt Relief Services industry in the United States is highly fragmented with no companies holding a market share greater than 5%.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Debt Relief Services industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Debt Relief Services industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Debt Relief Services industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Debt Relief Services industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Debt Relief Services industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Debt Relief Services industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Debt Relief Services industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Debt Relief Services industry in the United States.
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Frequently Asked Questions
What is the market size of the Debt Relief Services industry in the United States in 2026?
The market size of the Debt Relief Services industry in the United States is $21.5bn in 2026.
How many businesses are there in the Debt Relief Services industry in the United States in 2024?
There are 453 businesses in the Debt Relief Services industry in the United States, which has grown at a CAGR of 2.0 % between 2019 and 2024.
Has the Debt Relief Services industry in the United States grown or declined over the past 5 years?
The market size of the Debt Relief Services industry in the United States has been declining at a CAGR of 6.4 % between 2019 and 2024.
What is the forecast growth of the Debt Relief Services industry in the United States over the next 5 years?
Over the next five years, the Debt Relief Services industry in the United States is expected to decline.
What does the Debt Relief Services industry in the United States include?
Loaning funds to businesses for debt relief and Loaning funds to consumers for debt relief are part of the Debt Relief Services industry in the United States.
How competitive is the Debt Relief Services industry in the United States?
The level of competition is low and steady in the Debt Relief Services industry in the United States.
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