Crixeo Releases Its National Debt Resolution Report
The debt resolution industry is a dynamic part of the U.S. economy, accounting for roughly $5 billion in total economic output or roughly 0.02 percent of Gross Domestic Product. Debt resolution companies currently employ around 6,000 Americans. In 2019, the global Consumer Debt Resolution Services market size was US$1.5 billion, and it is expected to reach over $2 billion by the end of 2025, with a compound annual growth rate of close to 5%.
The Crixeo Report provides actionable insights to professional service firms such as market research, creative branding, and advertising companies. They leverage our services to analyze competition and explore the needs, motivations, pain points, and expectations of their clients’ target audience.
National Debt Resolution Industry Trends
The debt resolution industry has benefited from the global COVID-19 pandemic. A slower economic recovery is evident with the number of Americans applying for unemployment benefits. Millions of American jobs are at risk while credit card issuers have cut credit limits to mitigate the financial risk for the banks.
During a recession, like the one we are experiencing now, people tend to borrow more money to pay bills or maintain their way of life when funds are low. Historically, this leads to a higher rate of delinquencies that credit card companies have to take on. This translates into a spike in volume and profits for debt settlement companies.
What is Debt Resolution?
Debt Resolution is also called debt reduction, debt negotiation, or debt relief. Settlements are negotiated with the debtor’s unsecured creditors. Commonly, creditors agree to forgive a large part of the debt, though results can vary widely.
A debt resolution program can have considerable benefits for consumers who are drowning in different types of debt and have exhausted all other options to get back on track. Outside of filing bankruptcy, entering a debt resolution program is one of the few options consumers have to negotiate with creditors.
Table of Contents:
- About this Report
- Industry at a Glance
- Industry Performance
- Trump vs Biden
- Regulatory Environment
- CFPB Report on Debt Settlement
- Consumer Complaints
- Enforcement Actions
- Products and Markets
- Competitive Landscape
- Major Companies
- Lead Generators
- Operating Conditions
- Key Statistics
Why Buy The Crixeo National Debt Resolution Report?
The Crixeo National Debt Relief Report enables you to find out about key industry trends, identify threats and opportunities, plan strategically for marketing, and gain competitive intelligence over your competition. It provides the necessary information to perform SWOT, PEST, and STEER analysis. It will give you a deeper understanding of market dynamics and operational metrics to effectively compete.
The report includes a historical analysis of the key drivers of the debt resolution industry along with a five-year forecast of the market. Most importantly, it compares the competition according to 40 different metrics.
Top National Players Featured In Report
Freedom Debt Relief, National Debt Relief, Countrywide Debt Relief, Accredited Debt Relief, New Era Debt Solutions, Fiona, Century Support Services, Liberty Debt Relief, Credit Associates, Pacific Debt Inc, Debt RX, JG Wentworth, Simple Path Financial, CuraDebt, Guardian Debt Relief, Premier Debt Help, California Debt Relief, SPF Saves, Oakview Law Group, Credit 9, Finance Solutions, Rockville Advisors