Global AFCC Debt Settlement Market Size, Status and Forecast 2022

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.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.

Market Analysis and Insights: Global AFCC Debt Settlement Market
The global AFCC Debt Settlement market size is projected to reach US$ 366.4 million by 2027, from US$ 273 million in 2020, at a CAGR of 4.3% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global AFCC Debt Settlement market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global AFCC Debt Settlement market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global AFCC Debt Settlement market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global AFCC Debt Settlement market.

Global AFCC Debt Settlement Scope and Market Size
AFCC Debt Settlement market is segmented by company, 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 2016-2027.

Segment by Type
Credit Card Loan
Medical Loan
Private Student Loan
Others

Segment by Application
Open-end Loan
Closed-end Loan

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
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