Market Overview:
The global consumer debt settlement market is expected to grow at a CAGR of xx% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing levels of consumer debt, rising awareness about the benefits of debt settlement, and growing demand for online debt settlement services. The global consumer debt settlement market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into credit card loan, medical loan, private student loan, and others. Credit card loans are expected to account for a major share in terms of revenue in 2018 owing to their high popularity among consumers across regions. On the basis of application, open-end loans are expected to account for a major share in terms of revenue in 2018 owing to their high adoption among consumers across regions. Closed-end loans are also gaining traction among consumers due to their lower interest rates as compared with open-end loans.
Product Definition:
Consumer debt settlement is the process of negotiating with creditors to reduce the amount of a consumer's outstanding debt. Consumer debt settlement is important because it can help consumers avoid bankruptcy and get out from under their debts.
Credit Card Loan:
A credit card is an unsecured loan wherein the lenders ( banks/ financial institutions) grant a line of credit up to a certain limit which can be used by the borrowers for purchasing goods and services. The interest rates charged are higher than that of other lending products such as home loans, car loans, personal loans etc. However, since this product does not require any security like collateral and has lower down-payments; it is more easily granted especially to new businesses with limited assets.
Medical Loan:
A medical loan is a form of consumer debt that is used to cover the cost of health-related services or products. Medical loans are unsecured and have high interest rates as compared to other forms of consumer debt such as credit cards. The primary difference between a medical loan and other types of consumer loans is that the terms for paying back the loan do not include any type of co-borrowers, i.e.
Application Insights:
The closed-end loan application segment dominated the global market in 2017. The segment is expected to witness significant growth over the forecast period owing to increasing government spending and infrastructure development projects, such as the China¢â‚¬â„¢s ¢â‚¬Å“One Belt and One Road¢â‚¬ initiative. This has led to an increase in demand for loans from various sectors, including construction, real estate and manufacturing.
The open-end loan application segment is expected to grow at a higher rate than that of closed-end loans during the forecast period due to its flexible nature; consumers can apply for additional amounts if required. Moreover, this type of consumer debt settlement allows consumers accesses their funds even after they have left their jobs or are still job hunting by providing them with easy online access through internet banking facilities or mobile applications installed on smartphones or computers globally.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its dominance over the forecast period as well. This can be attributed to increasing awareness among consumers regarding debt settlement and growing adoption of online modes of payment for settling debts.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising disposable income, improving economic conditions, and rapid urbanization in emerging countries such as China and India. Furthermore, a large population base with high unmet needs will also contribute toward regional growth during the same period.
Growth Factors:
- Increasing awareness about the benefits of consumer debt settlement among consumers
- Rising number of defaults and bankruptcies due to the economic recession
- Growing demand for debt relief services from consumers struggling with high levels of indebtedness
- Proliferation of online debt settlement companies that offer lower processing fees and more flexible payment plans
- Increased government support for consumer credit counseling and financial literacy programs
Scope Of The Report
Report Attributes
Report Details
Report Title
Consumer Debt Settlement Market Research Report
By Type
Credit Card Loan, Medical Loan, Private Student Loan, Others
By Application
Open-end Loan, Closed-end Loan
By Companies
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
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
152
Number of Tables & Figures
107
Customization Available
Yes, the report can be customized as per your need.
Global Consumer Debt Settlement Market Report Segments:
The global Consumer Debt Settlement market is segmented on the basis of:
Types
Credit Card Loan, Medical Loan, Private Student Loan, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Open-end Loan, Closed-end Loan
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- 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
Highlights of The Consumer Debt Settlement Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Credit Card Loan
- Medical Loan
- Private Student Loan
- Others
- By Application:
- Open-end Loan
- Closed-end Loan
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Consumer Debt Settlement Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Consumer debt settlement is a process where a debtor's outstanding consumer debt is reduced or eliminated. This may include reducing the amount owed, extending the repayment period, or forgiving some or all of the debt.
Some of the key players operating in the consumer debt settlement market are 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.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Consumer Debt Settlement Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Consumer Debt Settlement Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Consumer Debt Settlement Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Consumer Debt Settlement Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Consumer Debt Settlement Market Size & Forecast, 2018-2028
4.5.1 Consumer Debt Settlement Market Size and Y-o-Y Growth
4.5.2 Consumer Debt Settlement Market Absolute $ Opportunity
Chapter 5 Global Consumer Debt Settlement Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Consumer Debt Settlement Market Size Forecast by Type
5.2.1 Credit Card Loan
5.2.2 Medical Loan
5.2.3 Private Student Loan
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Consumer Debt Settlement Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Consumer Debt Settlement Market Size Forecast by Applications
6.2.1 Open-end Loan
6.2.2 Closed-end Loan
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Consumer Debt Settlement Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Consumer Debt Settlement Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Consumer Debt Settlement Analysis and Forecast
9.1 Introduction
9.2 North America Consumer Debt Settlement Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Consumer Debt Settlement Market Size Forecast by Type
9.6.1 Credit Card Loan
9.6.2 Medical Loan
9.6.3 Private Student Loan
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Consumer Debt Settlement Market Size Forecast by Applications
9.10.1 Open-end Loan
9.10.2 Closed-end Loan
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Consumer Debt Settlement Analysis and Forecast
10.1 Introduction
10.2 Europe Consumer Debt Settlement Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Consumer Debt Settlement Market Size Forecast by Type
10.6.1 Credit Card Loan
10.6.2 Medical Loan
10.6.3 Private Student Loan
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Consumer Debt Settlement Market Size Forecast by Applications
10.10.1 Open-end Loan
10.10.2 Closed-end Loan
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Consumer Debt Settlement Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Consumer Debt Settlement Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Consumer Debt Settlement Market Size Forecast by Type
11.6.1 Credit Card Loan
11.6.2 Medical Loan
11.6.3 Private Student Loan
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Consumer Debt Settlement Market Size Forecast by Applications
11.10.1 Open-end Loan
11.10.2 Closed-end Loan
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Consumer Debt Settlement Analysis and Forecast
12.1 Introduction
12.2 Latin America Consumer Debt Settlement Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Consumer Debt Settlement Market Size Forecast by Type
12.6.1 Credit Card Loan
12.6.2 Medical Loan
12.6.3 Private Student Loan
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Consumer Debt Settlement Market Size Forecast by Applications
12.10.1 Open-end Loan
12.10.2 Closed-end Loan
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Consumer Debt Settlement Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Consumer Debt Settlement Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Consumer Debt Settlement Market Size Forecast by Type
13.6.1 Credit Card Loan
13.6.2 Medical Loan
13.6.3 Private Student Loan
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Consumer Debt Settlement Market Size Forecast by Applications
13.10.1 Open-end Loan
13.10.2 Closed-end Loan
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Consumer Debt Settlement Market: Competitive Dashboard
14.2 Global Consumer Debt Settlement Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Freedom Debt Relief
14.3.2 Rescue One Financial
14.3.3 National Debt Relief
14.3.4 ClearOne Advantage
14.3.5 Century Support Services
14.3.6 United Debt Counselors
14.3.7 New Leaf Financial
14.3.8 Countrywide Debt Relief
14.3.9 Liberty Debt Relief
14.3.10 Debt RX
14.3.11 Pacific Debt
14.3.12 New Era Debt Solutions
