Market Research Report
Covid-19 Impact on AFCC Debt Settlement Market, Global Research Reports 2020-2026
|Published by||QYResearch||Product code||942232|
|Published||Content info||92 Pages
Delivery time: 2-3 business days
|Covid-19 Impact on AFCC Debt Settlement Market, Global Research Reports 2020-2026|
|Published: June 15, 2020||Content info: 92 Pages||
Market Analysis and Insights: Global AFCC Debt Settlement Market
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.
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.
All together, these three components of the debt settlement industry are a dynamic part of the U.S. economy, accounting for $4.9 billion in total economic output or roughly 0.02 percent of GDP. Debt settlement companies currently employ 5,215 Americans.in In 2019, the global Consumer Debt Settlement Services market size was US$ 1455.64 million and it is expected to reach US$ 2168.33 million by the end of 2026, with a CAGR of 4.29% during 2020-2026.
Global AFCC Debt Settlement Scope and Market Size
AFCC Debt Settlement market is segmented by players, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global AFCC Debt Settlement market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2015-2026.
Segment by Type
Segment by Application