Each collection company has its own set of strengths ( and shortcomings). Selecting a collection agency that fits your needs, requires careful evaluation of their services, experience and recovery rates. You can always use our (free) contact us form and we will connect you with some of the best collection agencies serving near you, to maximize the possibility of recovering money from your past-due invoices. A bigger collection agency does not always mean that it is better than its smaller-medium sized peers.
Here is the list of the biggest debt collection agencies in the United States.
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 at Fort Ross, IL. In the year 2019, TSI also acquired NCI ( Altisource), making it an even bigger player.
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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), 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.
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 performs debt collection 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.
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.
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
– IC System
– 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 to choose a good one based on your specific requirements based on our experience and opinion.
Most collection agencies are private entities, and their revenue is not often disclosed. We have compiled this list based on many parameters out of the internet – employee size, companies that report revenue, complaints, etc.. and believe that this list is nearly accurate. To help us improve this article (in case we have missed out any), email us at email@example.com. The list above is not sorted by their size.
AMCA which was one of the biggest medical collection agencies was shut down because of a huge data breach that proved too costly.