Each collection agency has its own set of strengths ( and shortcomings). Selecting a debt collection company that fits your needs requires carefully evaluating their services, experience, and recovery rates.
Here is the list of the biggest debt collection agencies in the United States.
1. Transworld Systems Inc (TSI)
TSI has been the biggest collection agency for quite some time now. It also has Rocket Receivables and TSI commercial divisions. It has been serving the USA’s collection industry for nearly half a century now. Subsidiaries include NCO Group and North Shore Agency. Their website states that TSI manages a portfolio of over 25 billion and over 35,000 clients. The corporate office is located in Fort Ross, IL. In 2019, TSI also acquired NCI ( Altisource), making it an even bigger player.
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2. The Kaplan Group
One of the largest commercial collection companies in the USA. The owner, Dean Kaplan has 30 years of business and negotiating experience, has closed over $500 million of transactions (per Linkedin), and has an MBA from a top 5 university. 85% Success Rate on viable claims over $10,000.
3. Midland Credit Management (MCM)/ Encore Capital Group Inc
Encore Capital Group is a global specialty finance company with 66 years of operating experience and has over 8,500 employees across 17 countries. Through its subsidiaries, Encore purchases portfolios of defaulted consumer receivables at deep discounts to face value and manages them by working with individuals as they repay their obligations and work toward financial recovery. Location San Diego, CA.
4. Portfolio Recovery Associates (PRA Group)
PRA Group (Nasdaq: PRAA) began in 1996 as Portfolio Recovery Associates, headquartered in Norfolk, Virginia. Over the past 20 years, PRA, through its subsidiaries, has grown to become one of the largest debt buyers in the world, with more than 5,700 employees in 16 countries throughout the Americas and Europe. They also do business as Encore Capital Group.
5. LVNV Funding
LVNV collects debt through its wholly-owned subsidiaries Resurgent, Alegis Group, Sherman Financial, Pinnacle Financial Group and many others.
6. Alorica Inc. / EGS
Alorica Inc. is the holding company of various direct and indirect subsidiaries, including EGS Financial Care, Inc. (EGS FC), Systems & Services Technologies, Inc. (SST), and Global Receivables Solutions, Inc. (GRSI). EGS FC and GRSI are licensed debt collectors, and SST provides back-office receivables services. Many of Alorica Inc.’s subsidiaries operate under the brand, Alorica, but all remain separate legal entities.
7. Altus GTS Inc.
Per their website, Altus is the largest commercial collection agency in North America.
8. Weltman, Weinberg & Reis
Weltman, Weinberg & Reis is a large Cleveland-based collection law firm.
9. GC Services:
GC Services is one of the oldest and largest privately-held collection agencies in the United States. They provide a range of services including third-party debt collection, customer service, and accounts receivable solutions.
10. Sherloq Solutions:
Sherloq Solutions is known for providing revenue cycle management and accounts receivable solutions, primarily to the healthcare industry.
11. IC System
IC System is a family-owned collection agency that has been in business since 1938. It is a nationally recognized debt collection agency with over 85 years of experience. They focus on ethical and efficient debt recovery solutions for various industries, including healthcare, retail, education, and government. With strong data security protocols, it attempts to maintain positive relationships with consumers.
Other large collection agencies include.
– Enhanced Recovery Company (ERC)
– NCB Management Services
– Nationwide Credit (NCI) / ALTISOURCE / American Creditors Bureau
– Harris and Harris
– Suburban Credit Corporation
– CBE Group Inc
– ConServe
– Pioneer Credit Recovery (Navient Corporation)
– Prestige Services Inc (PSI)
– Performant Recovery Inc (Premiere Credit of North America)
– AFNI Collections
– AARGON Collections
– Alliance One
We can assist you in selecting a good one based on your specific requirements based on our experience and opinion.
Most collection agencies are private entities whose revenue is not often disclosed. We have compiled this list based on many parameters on the internet – employee size, companies that report revenue, complaints, etc.. We believe this list is nearly accurate. To help us improve this article (in case we have missed out on any), email us at support@nexacollect.com. Their size does not sort the list above.
AMCA, one of the biggest medical collection agencies, was shut down because of a huge data breach that proved too costly.