The largest debt collection agencies in the U.S. fall into two distinct categories: consumer (B2C) debt buyers and servicers like Encore Capital, PRA Group, and Jefferson Capital Systems that recover credit card and medical debt, and commercial (B2B) specialists like Caine & Weiner and The Kaplan Group that recover unpaid business invoices. Size alone doesn’t determine fit — the right agency depends on your debt type, industry, and account size, not just how large the company is.
Key Takeaways
-
Enterprise-Scale Infrastructure: Large collection agencies provide the 50-state licensing, advanced skip-tracing, and high-volume capacity required for enterprise and mid-market accounts receivable.
-
Rigorous Security & Compliance: SOC 2 Type II certification, HIPAA alignment, GLBA, and FDCPA adherence protect your brand reputation and eliminate legal exposure during debt recovery
-
Flexible Pricing Models: Evaluates fixed-fee recovery options alongside performance-based contingency rates to maximize net cash recovery.
-
Seamless API Integration: Modern collection partners integrate directly with existing billing platforms for real-time reporting and automated placement, backed up by a strong customer support team.
- Protect Your Reputation: A good collection agency should attempt to preserve your reputation during the collections process.
How “Largest” Is Measured
No single, audited ranking of collection agencies exists — most are private companies that don’t publish revenue. This list is built from public financial filings where available, estimated market share, employee counts, and verifiable claims of niche dominance (total dollars recovered, client concentration in a given industry). It’s a reasonable, current picture rather than a precise ranking, and it’s updated when better information becomes available.
Largest Consumer (B2C) Collection Agencies
These firms collect debts owed by individuals — credit card balances, medical bills, personal loans — and the top of this list is dominated by a handful of publicly traded debt buyers.
Encore Capital Group (Midland Credit Management / Midland Funding)
Publicly traded (Nasdaq: ECPG) and one of the largest debt buyers in the U.S., purchasing defaulted consumer portfolios from major banks. 2025 trailing-twelve-month revenue: $1.46 billion.
PRA Group (Portfolio Recovery Associates)
Publicly traded (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming consumer loans. 2025 TTM revenue: $1.14 billion, with $1.9 billion in total cash collections in 2024.
Jefferson Capital Systems (JCAP)
By its own account, the 4th-largest debt buyer in the U.S. Went public on Nasdaq in 2024, reporting $433.3 million in 2024 revenue (up 34% from 2023) and $150.8 million in Q3 2025 revenue alone, with a market cap around $1.1–1.2 billion.
Sherman Financial Group (LVNV Funding)
A major private debt buyer and primary competitor to Encore and PRA. Parent company of Credit One Bank, which reported $1.52 billion in 2023 revenue.
Cavalry Portfolio Services
A major consumer debt buyer generating an estimated $250 million to $500 million in annual revenue, with operations across multiple states.
Alorica Inc.
A large business process outsourcing (BPO) and customer experience (CX) firm estimated to control roughly 10.4% of the total debt collection agency market, and one of the largest first-party collections servicers in the U.S.
Transworld Systems Inc. (TSI)
One of the largest Accounts Receivable Management (ARM) providers in the country, with a major focus on B2C verticals including healthcare, government, and education (an estimated 1,895–5,000 employees). TSI also runs a significant B2B division — see the commercial list below.
Credit Control, LLC
A large consumer collection agency (200+ employees) focused on financial services, with clients including 13 of the top 15 U.S. banks.
Williams & Fudge, Inc.
A dominant specialist in higher education, collecting student loans and tuition receivables; cited by clients like Texas Tech as their highest-performing agency.
ConServe
A top-performing ARM company specializing in higher education (student loans) and government agency collections, including for the IRS.
IC System
A third-generation, family-owned agency with 85+ years of experience, named “Best for B2C” collections in 2025 rankings by Business News Daily.
CBE Group Inc.
A large employer recognized as a trusted leader in public-sector and healthcare patient account collections.
GC Services (InteLogix)
A large, privately held accounts receivable management and call-center company handling high-volume consumer collections for banks, credit card issuers, telecoms, government, and utilities.
Radius Global Solutions
A major ARM and contact-center provider with thousands of employees, focused on consumer receivables in healthcare, financial services, utilities, and telecom.
iQor
A global CX/BPO company with a long history in consumer collections, especially credit card, telecom, and cable, operating large call-center networks across early- and late-stage delinquency.
Largest Commercial (B2B) Collection Agencies
These firms specialize in recovering money businesses owe other businesses — unpaid invoices, service contracts, trade credit — a market defined more by industry expertise than sheer size.
Caine & Weiner
Handles over $1 billion in placed accounts annually, with a client base including 20% of Fortune 500 companies, and ranks as a top agency for the construction industry.
The Kaplan Group
One of the largest commercial collection companies in the U.S. Owner Dean Kaplan has closed over $500 million in transactions over a 30-year career, with an 85% success rate on viable claims over $10,000.
Greenberg, Grant & Richards Inc.
A CLLA-certified commercial agency that has collected over $1.5 billion to date, including more than $100 million in each of the past two years.
Brown & Joseph, LLC
The leading commercial collection firm for the insurance industry, recovering more than $200 million in delinquent premiums annually.
Transworld Systems Inc. (TSI) — Commercial Division
TSI’s B2B services, including Accounts Receivable Management and Healthcare Revenue Cycle Management, are a core focus alongside its consumer business listed above.
Prestige Services Inc. (PSI)
A nationwide commercial agency consistently ranked “Best for B2B Collections” by Business News Daily (2020–2025), holding an A+ BBB rating.
Atradius Collections
A major global firm consistently ranked as a top-5 agency, specializing in B2B debt collection domestically and internationally.
Mesa Revenue Partners
Founded in 1976, specializing in corporate collections including complex industries like construction.
C2C Resources
A CLLA-certified commercial agency with over 25,000 business clients, also noted as a top specialist for construction.
Murkin Group
A highly regarded specialist agency focused on the construction industry.
Saba & Associates
A top-ranked agency specializing in commercial clients within construction.
Allianz Trade Collections (Euler Hermes / Allianz Trade)
The commercial collections arm of Allianz Trade, a leading global trade-credit insurer, providing B2B debt recovery for exporters and domestic businesses worldwide.
Altus Receivables Management
One of the largest pure commercial collection agencies in North America, with global legal networks and strong coverage in manufacturing, distribution, logistics, and industrial trade.
ABC-Amega
A long-standing commercial agency focused on B2B receivables, industry credit groups, and international collections across many sectors.
Coface Collections
The collections arm of Coface, another major global trade-credit insurer, offering B2B debt recovery for companies trading internationally, including U.S. exporters.
Why Size Isn’t the Whole Story
Illustrative Example: Matching Agency Type to Debt Type
A hospital with unpaid patient balances and a construction firm owed $40,000 on a completed project both need “a large, reputable collection agency” — but not the same one. The hospital’s best fit is a consumer-focused specialist with healthcare experience, like CBE Group or ConServe. The construction firm needs a commercial agency that understands mechanic’s liens and payment bonds, like Murkin Group or Saba & Associates. Matching the agency’s actual specialty to the debt type matters more than picking whichever name is biggest.
Illustrative Example: The AMCA Cautionary Tale
Size and scale don’t guarantee stability. American Medical Collection Agency (AMCA) was, at one point, one of the largest medical collection agencies in the country — until a massive 2019 data breach exposed the personal and financial information of roughly 20 million patients across multiple client labs. The fallout in lawsuits, client losses, and remediation costs was severe enough that AMCA shut down within months. A large client roster and years of history didn’t protect the company from a single catastrophic security failure — which is exactly why data security certifications matter as much as size when evaluating any collection partner.
Frequently Asked Questions
How are the “largest” collection agencies determined?
Mostly through public financial filings for the handful that are publicly traded, plus estimated revenue, employee counts, and verifiable claims about market share or total dollars recovered for the many that are privately held and don’t disclose financials.
What’s the difference between a consumer and commercial collection agency?
Consumer (B2C) agencies collect debts owed by individuals, such as credit card balances or medical bills. Commercial (B2B) agencies collect debts owed by one business to another, such as unpaid invoices or trade credit. The skills, legal framework (the FDCPA applies to consumer debt, not commercial), and negotiation style differ enough that most large agencies specialize in one or the other.
Does a bigger agency mean better results for my business?
Not necessarily. A larger agency often means more resources and broader legal reach, but a smaller agency specialized in your exact industry — construction, healthcare, higher education — may recover more effectively than a generalist giant with no niche expertise in your debt type.
Are any of these agencies publicly traded?
Yes — Encore Capital Group (Nasdaq: ECPG), PRA Group (Nasdaq: PRAA), and Jefferson Capital Systems (Nasdaq: JCAP) all file public financial reports, which is part of why their figures are easier to verify than most agencies on this list.
What happened to AMCA, and what does it teach about choosing an agency?
American Medical Collection Agency was a large medical debt collector that shut down after a 2019 data breach exposed roughly 20 million patients’ information. It’s a reminder that scale doesn’t guarantee security — verifying certifications like SOC 2 and HIPAA compliance matters regardless of how large an agency is.
Should I use a large national agency or a smaller specialized one?
It depends on your debt: a nationwide presence helps if your debtors are spread across states, while a specialized boutique agency may outperform a generalist in a specific industry. Many businesses are better served by an agency sized to their account volume and industry, not simply the largest name on a list like this one.
Nexa can help match your accounts to the right type of collection partner based on your industry and debt profile. Contact us to talk through what fits.
Help us keep this list accurate: most collection agencies are private and don’t disclose revenue, so this ranking is compiled from the best publicly available information. If we’ve missed a major agency or gotten something wrong, email support@nexacollect.com.