Skip to content

National Economic Impact Study of the Debt Resolution Industry

Scroll over each state using the interactive map above to see the debt resolution industry’s local economic impact.

Select a State
Alabama

Alabama

Industry Output
$ 12,213,600
Total Jobs Supported
153
Total Annual Output
$ 40,858,600
description

Alaska

Industry Output
$ 720,500
Total Jobs Supported
23
Total Annual Output
$ 5,886,900
Arizona

Arizona

Industry Output
$ 636,975,900
Total Jobs Supported
7163
Total Annual Output
$ 1,429,102,500
Arkansas

Arkansas

Industry Output
$ 4,739,000
Total Jobs Supported
91
Total Annual Output
$ 23,156,500
California

California

Industry Output
$ 771,434,300
Total Jobs Supported
4851
Total Annual Output
$ 1,585,138,900
Colorado

Colorado

Industry Output
$ 32,726,500
Total Jobs Supported
285
Total Annual Output
$ 79,669,000
Connecticut

Connecticut

Est Industry Output
$ 13,281,600
Est Total Jobs Supported
115
Est Total Annual Output
$ 32,875,800
Delaware

Delaware

Industry Output
$ 24,999,800
Total Jobs Supported
69
Total Annual Output
$ 39,535,400
Florida

Florida

Industry Output
$ 208,901,900
Total Jobs Supported
2561
Total Annual Output
$ 543,373,600
Georgia

Georgia

Est Industry Output
$ 55,079,800
Est Total Jobs Supported
557
Est Total Annual Output
$ 134,215,100
Hawaii

Hawaii

Est Industry Output
$ 3,717,000
Est Total Jobs Supported
40
Est Total Annual Output
$ 9,600,100
Idaho

Idaho

Industry Output
$ 44,828,900
Total Jobs Supported
418
Total Annual Output
$ 91,643,100
Illinois

Illinois

Est Industry Output
$ 56,085,800
Est Total Jobs Supported
547
Est Total Annual Output
$ 145,500,900
Indiana

Indiana

Industry Output
$ 18,440,000
Total Jobs Supported
272
Total Annual Output
$ 69,705,700
Iowa

Iowa

Est Industry Output
$ 20,967,700
Est Total Jobs Supported
190
Est Total Annual Output
$ 44,592,500
Kansas

Kansas

Est Industry Output
$ 12,823,800
Est Total Jobs Supported
127
Est Total Annual Output
$ 30,669,000
Kentucky

Kentucky

Industry Output
$ 11,593,000
Total Jobs Supported
163
Total Annual Output
$ 40,685,600
Louisiana

Louisiana

Industry Output
$ 11,697,000
Total Jobs Supported
143
Total Annual Output
$ 42,053,800
Maine

Maine

Est Industry Output
$ 19,004,400
Est Total Jobs Supported
156
Est Total Annual Output
$ 38,427,100
Maryland

Maryland

Industry Output
$ 194,651,500
Total Jobs Supported
1394
Total Annual Output
$ 371,688,400
Massachusetts

Massachusetts

Industry Output
$ 72,778,100
Total Jobs Supported
460
Total Annual Output
$ 156,360,100
Michigan

Michigan

Industry Output
$ 46,133,300
Total Jobs Supported
555
Total Annual Output
$ 131,509,100
Minnesota

Minnesota

Industry Output
$ 15,067,600
Total Jobs Supported
197
Total Annual Output
$ 55,459,400
Mississippi

Mississippi

Industry Output
$ 7,004,100
Total Jobs Supported
90
Total Annual Output
$ 23,020,700
Missouri

Missouri

Industry Output
$ 23,577,300
Total Jobs Supported
267
Total Annual Output
$ 69,520,800
Montana

Montana

Industry Output
$ 1,985,000
Total Jobs Supported
40
Total Annual Output
$ 9,761,200
Nebraska

Nebraska

Industry Output
$ 11,945,200
Total Jobs Supported
138
Total Annual Output
$ 34,825,900
Nevada

Nevada

Industry Output
$ 56,546,800
Total Jobs Supported
524
Total Annual Output
$ 117,415,800
New Hampshire

New Hampshire

Est Industry Output
$ 11,509,400
Est Total Jobs Supported
76
Est Total Annual Output
$ 24,070,000
New Jersey

New Jersey

Est Industry Output
$ 85,593,000
Est Total Jobs Supported
633
Est Total Annual Output
$ 184,451,200
New Mexico

New Mexico

Industry Output
$ 4,121,400
Total Jobs Supported
64
Total Annual Output
$ 15,534,000
New York

New York

Industry Output
$ 451,013,300
Total Jobs Supported
3387
Total Annual Output
$ 970,307,100
North Carolina

North Carolina

Industry Output
$ 28,285,800
Total Jobs Supported
288
Total Annual Output
$ 90,968,300
North Dakota

North Dakota

Est Industry Output
$ 9,268,300
Est Total Jobs Supported
78
Est Total Annual Output
$ 18,624,400
Ohio

Ohio

Est Industry Output
$ 84,870,300
Est Total Jobs Supported
819
Est Total Annual Output
$ 196,120,600
Oklahoma

Oklahoma

Industry Output
$ 10,233,300
Total Jobs Supported
146
Total Annual Output
$ 35,418,200
Oregon

Oregon

Est Industry Output
$ 41,125,700
Est Total Jobs Supported
399
Est Total Annual Output
$ 90,616,700
Pennsylvania

Pennsylvania

Industry Output
$ 184,184,700
Total Jobs Supported
1838
Total Annual Output
$ 432,059,200
Rhode Island

Rhode Island

Est Industry Output
$ 10,576,800
Est Total Jobs Supported
94
Est Total Annual Output
$ 22,769,000
South Carolina

South Carolina

Est Industry Output
$ 25,635,100
Est Total Jobs Supported
298
Est Total Annual Output
$ 63,416,800
South Dakota

South Dakota

Industry Output
$ 8,685,800
Total Jobs Supported
51
Total Annual Output
$ 19,182,000
Tennessee

Tennessee

Industry Output
$ 30,147,900
Total Jobs Supported
314
Total Annual Output
$ 83,535,300
Texas

Texas

Industry Output
$ 279,590,900
Total Jobs Supported
3002
Total Annual Output
$ 718,874,800
Utah

Utah

Industry Output
$ 33,900,300
Total Jobs Supported
181
Total Annual Output
$ 66,172,300
Vermont

Vermont

Est Industry Output
$ 15,293,400
Est Total Jobs Supported
103
Est Total Annual Output
$ 29,661,200
Vermont

Virginia

Industry Output
$ 59,275,500
Total Jobs Supported
380
Total Annual Output
$ 121,459,000
Washington

Washington

Est Industry Output
$ 41,750,500
Est Total Jobs Supported
280
Est Total Annual Output
$ 90,467,400
Washington, D.C.

Washington, D.C.

Industry Output
$ 8,474,700
Total Jobs Supported
50
Total Annual Output
$ 16,755,700
West Virginia

West Virginia

Est Industry Output
$ 13,606,200
Est Total Jobs Supported
138
Est Total Annual Output
$ 28,814,700
Wisconsin

Wisconsin

Industry Output
$ 12,011,400
Total Jobs Supported
191
Total Annual Output
$ 50,792,900
Wyoming

Wyoming

Est Industry Output
$ 3,566,500
Est Total Jobs Supported
32
Est Total Annual Output
$ 7,891,900

In 2019, the predecessor to the American Association for Debt Resolution (AADR), the American Fair Credit Council (AFCC), commissioned a first-of-its-kind research study to assess the national economic impact of debt resolution activity. The AADR recently released the third edition of the Economic Impact Report, and its data confirms that the debt resolution industry provides a vital option, giving Americans in desperate financial situations a path back to financial wellness. To read this report, click the Download Report button.

*Estimated total economic impact if debt resolution is widely available in these states

Download the Report

About the 2023 Economic Impact Report

After releasing an extensive study of the debt resolution industry and its vast contributions to the economies of dozens of states and the United States, the AADR commissioned the third report in its series of independent research studies to assess the national economic impact of debt resolution activity. Using the same research firm, John Dunham & Associates (JDA), data was collected from across the United States to illustrate the debt resolution industry’s substantial positive impact on the U.S. economy and the hundreds of thousands of Americans who have taken advantage of debt resolution.1

The debt resolution industry contributes to the American economy in various ways, three of which are particularly profound. First, the industry employs thousands of Americans nationwide. Second, creditors participating in the debt resolution process receive funds from debtors faster than they would otherwise. Finally, and most importantly, consumers with crippling unsecured debt enrolled in debt resolution programs are able to get back on their feet rapidly and once again contribute positively to their local economies.2

  • $8.3 billion in total economic impact.3
  • $5.6 billion in total principal value.4
  • 1.2 million individual settled accounts.5
  • Consumers saved $1.8 billion.6

The Current Economic Impact Delivered by the Debt Resolution Industry

The debt resolution industry contributes to the U.S. economy in a variety of ways each year, accounting for a total economic impact of $8.3 billion in 2022.7

This impact is realized across business and personal interests extensively:

  • Indebted Americans saved $1.8 billion.8
  • Creditors participating in debt resolution programs received more than $2.8 billion.9
  • The industry was cumulatively responsible for nearly 32,000 jobs.10
  • The industry paid more than $560 million in federal, state and local taxes.11

The Potential Economic Impact Delivered by Debt Resolution in 18 Additional States

The study also examined the potential economic impact of the debt resolution industry if consumers in the 18 states where debt resolution is currently not widely available were given the opportunity to take advantage of these services. That resulting economic impact in the U.S. annually would total an additional estimated $2.1 billion more, with about 7,700 additional jobs and $488 million more in savings for consumers.12

  • $2.1 billion
    Additional Economic Impact
  • $488 million
    More in Consumer Savings

$2.1 billion

Additional Economic Impact

$488 million

More in Consumer Savings

The resulting study report and data confirms debt resolution companies provide a vital service, giving Americans in desperate financial situations a path back to financial wellness. The debt resolution industry serves as an advocate for consumers and it delivers billions in economic benefits, supports thousands of U.S. jobs, and enables creditors to receive payments on outstanding debt, in situations where they would not have benefitted otherwise.

To view the full report, click here.

Footnotes:

  1. Dunham. (2023). 2023 Economic Impact of the Debt Settlement Industry (2023). Page 6.
  2. Dunham. (2023). 2023 Economic Impact. Page 9.
  3. Dunham. (2023). 2023 Economic Impact. Page 2.
  4. Dunham. (2023). 2023 Economic Impact. Page 6.
  5. Dunham. (2023). 2023 Economic Impact. Page 6.
  6. Dunham. (2023). 2023 Economic Impact. Page 13.
  7. Dunham. (2023). 2023 Economic Impact. Page 2.
  8. Dunham. (2023). 2023 Economic Impact. Page 13.
  9. Dunham. (2023). 2023 Economic Impact. Page 12.
  10. Dunham. (2023). 2023 Economic Impact. Page 3.
  11. Dunham. (2023). 2023 Economic Impact. Page 3.
  12. Dunham. (2023). 2023 Economic Impact. Page 10.