A new study by The Kaplan Group, a commercial collection agency, reveals a significant shift in the U.S. debt collection industry, which has seen notable shifts from 2019 to 2024, marked by a surge in public interest. This report explores these trends, highlighting state-level variations and national patterns as revealed by recent industry and search data.
We looked at the search index (scale of 1- 100) for the US, the closer the index is to 100, the greater the interest.
Key Takeaways
- The public interest for “debt collectors” has doubled from 2021 to 2024, reaching an average search interest index of 88.26 in 2024, according to the Google Trends search interest index ranging from 0 to 100.
- With a score of 100, South Dakota shows the highest search interest for “debt collectors”, followed by Montana and Oklahoma, both with a score of 94.
- Total employment in the Bill and Account Collectors industry decreased by 19% from 2019 to 2023, resulting in a loss of 44,690 jobs nationwide.
Public Interest for Debt Collectors
Analysis of search trends for the term “debt collectors” reveals interesting patterns in public interest over recent years. The yearly average search interest has shown a consistent upward trend from 2021 to 2024. In 2021, the average search interest was relatively low at 44.0, according to the Google Trends search interest index ranging from 0 to 100. However, it saw a significant increase to 67.06 in 2022, followed by a further rise to 75.74 in 2023. The partial data for 2024 shows an even higher average of 88.26, suggesting a continued growth in public interest or concern related to debt collectors.
Despite this growing interest, the debt collectors industry is decreasing in size during the same period. Nationally, total employment in the Bill and Account Collectors industry decreased by 19% from 2019 to 2023, losing 44,690 jobs.
States with Highest Interest for Debt Collectors
At the state level, South Dakota shows the highest search interest for “debt collectors”, reflected by a score of 100. Closely following are Montana and Oklahoma, both with a score of 94. Nebraska and Missouri tie with a search interest score of 88. These scores suggest that residents in these states showed significant interest in debt collectors from 2019 to 2024.
Interest for Debt Collectors by State
| State | Search interest for debt collectors |
| South Dakota | 100 |
| Oklahoma | 94 |
| Montana | 94 |
| Nebraska | 88 |
| Missouri | 88 |
| Arkansas | 88 |
| Tennessee | 88 |
| Wyoming | 88 |
| Mississippi | 82 |
| North Dakota | 82 |
| Kentucky | 82 |
| Texas | 82 |
| West Virginia | 82 |
| Kansas | 82 |
| Rhode Island | 82 |
| Ohio | 79 |
| Arizona | 79 |
| Georgia | 79 |
| Alabama | 76 |
| Alaska | 76 |
| South Carolina | 76 |
| Idaho | 76 |
| Nevada | 76 |
| Michigan | 76 |
| Iowa | 73 |
| Indiana | 73 |
| Utah | 73 |
| Florida | 70 |
| Oregon | 70 |
| Washington | 70 |
| Colorado | 67 |
| Wisconsin | 67 |
| Delaware | 67 |
| Virginia | 67 |
| Pennsylvania | 67 |
| Illinois | 64 |
| North Carolina | 64 |
| Maine | 64 |
| Louisiana | 61 |
| Maryland | 61 |
| California | 61 |
| New Jersey | 58 |
| New Mexico | 58 |
| Minnesota | 58 |
| Hawaii | 58 |
| District of Columbia | 58 |
| New York | 55 |
| New Hampshire | 55 |
| Connecticut | 55 |
| Massachusetts | 50 |
| Vermont | 26 |
The study underscores the complex dynamics in the Debt Collectors industry. Despite a 19% reduction in debt collector jobs, public interest has increased, pointing to a need for a deeper analysis of the industry’s evolving role.
Methodology
This study analyzed the Bill and Account Collectors industry using two primary data sources. Google Trends data was used to assess public interest in “debt collectors” searches from 2019 to 2024 at the national and state level. Employment statistics and wage information from 2019 to 2023 were obtained from the Bureau of Labor Statistics (BLS). This approach combined search trend analysis with official labor data to provide a comprehensive view of industry dynamics across the United States.
