Collection Agencies
Description
This industry comprises establishments primarily engaged in collecting payments for claims and remitting payments collected to their clients. Illustrative Examples: Account or delinquent account collection services Tax collection services on a contract or fee basis Bill or debt collection services
Hierarchy
| Code | Title | Description |
|---|---|---|
| 56 | Administrative and Support and Waste Management and Remediation Services 2-digit sector | The Sector as a Whole The Administrative and Support and Waste Management and Remediation Services sector comprises establishments performing routine support activities for the day-to-day operations of other organizations. These essential activities are often undertaken in-house by establishments in many sectors of the economy. The establishments in this sector specialize in one or more of these support activities and provide these services to clients in a variety of industries and, in some cases, to households. Activities performed include: office administration, hiring and placing of personnel, document preparation and similar clerical services, solicitation, collection, security and surveillance services, cleaning, and waste disposal services. The administrative and management activities performed by establishments in this sector are typically on a contract or fee basis. These activities may also be performed by establishments that are part of the company or enterprise. However, establishments involved in administering, overseeing, and managing other establishments of the company or enterprise are classified in Sector 55, Management of Companies and Enterprises. Establishments in Sector 55, Management of Companies and Enterprises, normally undertake the strategic and organizational planning and decision-making role of the company or enterprise. Government establishments engaged in administering, overseeing, and managing governmental programs are classified in Sector 92, Public Administration. |
| 561 | Administrative and Support Services 3-digit subsector | Industries in the Administrative and Support Services subsector group establishments engaged in activities that support the day-to-day operations of other organizations. The processes employed in this sector (e.g., general management, personnel administration, clerical activities, cleaning activities) are often integral parts of the activities of establishments found in all sectors of the economy. The establishments classified in this subsector have specialization in one or more of these activities and can, therefore, provide services to clients in a variety of industries and, in some cases, to households. The individual industries of this subsector are defined on the basis of the particular process that they are engaged in and the particular services they provide. Many of the activities in this subsector are ongoing routine support functions that businesses and organizations perform in-house. However, it is common to contract or purchase services from businesses that specialize in such activities and can, therefore, provide the services more efficiently. The industries in this subsector cannot be viewed as strictly "support." The Travel Arrangement and Reservation Services industry group includes travel agents, tour operators, and providers of other travel arrangement services, such as hotel and restaurant reservations and arranging the purchase of tickets, serving many types of clients, including individual consumers. This group was placed in this subsector because the services are often of the "support" nature (e.g., travel arrangement) to businesses and other organizations that purchase such services. The administrative and management activities performed by establishments in this sector are typically on a contract or fee basis. These activities may also be performed by establishments that are part of the company or enterprise. However, establishments involved in administering, overseeing, and managing other establishments of the company or enterprise are classified in Sector 55, Management of Companies and Enterprises. Establishments in Sector 55, Management of Companies and Enterprises, normally undertake the strategic and organizational planning and decision-making role of the company or enterprise. Government establishments engaged in administering, overseeing, and managing governmental programs are classified in Sector 92, Public Administration. |
| 5614 | Business Support Services 4-digit industry group | This industry group comprises establishments engaged in performing activities that are ongoing routine business support functions for clients on a contract or fee basis, or serving other establishments of the same enterprise. |
| 56144 | Collection Agencies 5-digit NAICS industry | See industry description for 561440. |
| 561440 | Collection Agencies 6-digit U.S. detail | This industry comprises establishments primarily engaged in collecting payments for claims and remitting payments collected to their clients. Illustrative Examples: Account or delinquent account collection services Tax collection services on a contract or fee basis Bill or debt collection services |
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Classification References
- 01Repossessing tangible assets--are classified in U.S. Industry 561491, Repossession Services;
- 02Providing financing to others by factoring accounts receivables (i.e., assuming the risk of collection and credit losses)--are classified in U.S. Industry 522299, International, Secondary Market, and All Other Nondepository Credit Intermediation; and
- 03Providing legal services for debt collection by offices of lawyers--are classified in Industry 541110, Offices of Lawyers.
Index Items
Account collection services
Adjustment agencies (except insurance)
Bill collection services
Collection agencies
Collection agencies, accounts
Credit arrears collection services
Debt collection services
Delinquent account collection services
Tax collection services on a contract or fee basis
How Item Can Help
Analyzes historical recovery data and client payment patterns to predict settlement timelines, identify high-value assets, and optimize collection strategies.
External Resources
Census.gov NAICS Detail
Official US Census Bureau definition and scope for NAICS 561440.
Better Business Bureau
BBB provides free complaints and verification data for consumer-facing collection agencies.
National Association of Professional Debt Collectors
A trade association representing professional debt collectors offering education and industry news.
U.S. Department of Labor Wage & Hour Division
Government site listing the Fair Debt Collection Practices Act (FDCPA) and federal collection regulations.
