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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

The Debt Collection market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
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 Locations Chapter

The geographic distribution of the industry is determined by the location of key customer markets, but this is also influenced by other factors such as the level of economic activity, number of businesses and population density. These have a tendency to increase the concentration of industry enterprises in regions.

The industry is mainly concentrated in the larger states of New South Wales, Victoria and Queensland, which together accounted for 83% of debt collection enterprises in June 2013 and this concentration has remained unchanged in recent years. Melbourne and Sydney are home to most of Australia's financial corporations (e.g. banks and insurance companies) and these are the principal clients for debt collection services... 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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