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Debt Collection in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Debt Collection Market Research Report | ANZSIC N7293a | Jun 2014

A bad debt follows you: Increased unemployment drives demand for industry services

IBISWorld’s Debt Collection market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 09-14
8.4%
Annual Growth 14-19
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Profit
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Employment
8,550
Businesses
570
Industry Analysis & Industry Trends

The Debt Collection industry typically thrives when the economy is stumbling, as this leads to households defaulting on loans and a rise in business bankruptcies. However, the global financial crisis did not lead to a significant surge in debt collecting services. This reflects efforts by households and businesses to pay down debt and boost savings, and the tightening of lending practices, which resulted in better loans with less likelihood of defaulting.

While some of the Australian economy has benefited from the booming resources sector for much of the past five years, much of the economy struggled in challenging conditions. The subdued economic growth and rising private debt has fuelled strong growth for debt collection agencies. Industry revenue is currently estimated at $1.2... purchase to read more

Industry Report - Industry Analysis Chapter

Australia has virtually operated as a two-speed economy since the onset of the global financial crisis and this has played into the hands of the Debt Collection industry. This is one of the few industries that generally benefits from the tightening of economic conditions and the accompanying rises in unemployment, loan defaults and bankruptcies. That said, it has not all been smooth sailing for the industry, as the slower economic growth tended to tighten corporate budgets for debt recovery. Some firms, notably Dun & Bradstreet, also had collection activities on the eastern seaboard interrupted by the floods and cyclones of 2010-11... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Debt Collection Industry?

Debt collection firms retrieve debt payments from delinquent individuals and businesses that have fallen short of the terms and conditions outlined by their loan agreements. A firm can act as an agent on behalf of a creditor for which the firm receives a fee or percentage of the total amount collected. Alternately, firms purchase 'bad' debt from the original creditors at a discount to its face value.

Industry Products
Contingent fee servicingPortfolio acquisition servicing
 
Industry Activities
Account collectionBill collectionDebt collectionDelinquent account collectionTax collection on a contract or fee basisDebt portfolio collection


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