Global AFCC Debt Settlement Market Growth (Status and Outlook) 2023-2029

Global AFCC Debt Settlement Market Growth (Status and Outlook) 2023-2029

AFCC Debt settlement is a service offered by third-party companies that can try to reduce their customer’s debt by negotiating settlements with customer’s creditors or debt collectors.
LPI (LP Information)' newest research report, the “AFCC Debt Settlement Industry Forecast” looks at past sales and reviews total world AFCC Debt Settlement sales in 2022, providing a comprehensive analysis by region and market sector of projected AFCC Debt Settlement sales for 2023 through 2029. With AFCC Debt Settlement sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world AFCC Debt Settlement industry.
This Insight Report provides a comprehensive analysis of the global AFCC Debt Settlement landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on AFCC Debt Settlement portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global AFCC Debt Settlement market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for AFCC Debt Settlement and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global AFCC Debt Settlement.
The global AFCC Debt Settlement market size is projected to grow from US$ 278.4 million in 2022 to US$ 377.9 million in 2029; it is expected to grow at a CAGR of 4.5% from 2023 to 2029.
The economic impact of the debt settlement industry is comprised of three pieces. First, companies providing debt settlement services employ thousands of people in offices around the country. Second, creditors working with debt settlement firms to settle consumer debts receive funds owed by debtors faster than they otherwise would, and avoid the negative business and reputational consequences of forcing such debtors into bankruptcy, or to answer collections actions that may or may not result in any recovery. Finally, debtors will see economic benefits resulting from the elimination of generally expensive debt, freeing up resources that would have been used to service that debt, even while the consumer is struggling under its burden. This money would be spent in the local economy generating additional economic benefits.To state the obvious, consumer debt settlement activity is tied to growth in consumer lending. Settlement activity does not appear to be closely tied to the credit cycle, however. When consumer credit is expanding and the general economy is growing, a segment of consumers over-spend and have difficulty repaying the debt they have incurred to fund their consumption. When the economy dips and consumer credit contracts, more consumers are suffering job losses, which disrupts their ability to service debt. Both scenarios create potential clients for debt settlement firms, but prospects for debt settlement firms appear to be brightest when consumer credit is loose. The recovery in consumer lending since the financial crisis and recession is complete. Outstanding credit card debt is projected to break through the $1 trillion level by year-end when the holiday shopping season is over. The United States last broke the $1 trillion level on credit card debt in 2008 – right as the financial crisis was exploding.
This report presents a comprehensive overview, market shares, and growth opportunities of AFCC Debt Settlement market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
Credit Card Loan
Medical Loan
Private Student Loan
Others
Segmentation by application
Open-end Loan
Closed-end Loan
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Freedom Debt Relief
Rescue One Financial
National Debt Relief
ClearOne Advantage
Century Support Services
United Debt Counselors
New Leaf Financial
Countrywide Debt Relief
Liberty Debt Relief
Debt RX
Pacific Debt
New Era Debt Solutions

Please note: The report will take approximately 2 business days to prepare and deliver.