Collections Industry Overview

Companies that provide the collection of debt or purchase of debt portfolios.

Full Collections Industry Description

Bankruptcy Reform

Bankruptcies inhibit collection agency activity, but increase credit reporting activity. The rise in personal bankruptcies has roughly mirrored increases in credit card loans outstanding, according to a study by the Federal Reserve Bank of Boston.

Full Collections Industry Trends

• AllianceOne Inc.
• Arrow Financial Services LLC
• Asset Acceptance Capital Corp.

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Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Collections maps to a number of NAICS codes including:

Full Collections Industry Codes

• Financial Services Technology Consortium
  
• Investment Company Institute
  
• The Association of Private Client Investment Managers and Stockbrokers
  

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