- debt collection agency
- An organization that specializes in collecting the outstanding debts of its clients, charging a commission for doing so.
Accounting dictionary. 2014.
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debt collection agency — An organization that specializes in collecting the outstanding debts of its clients, charging a commission for doing so. Because of the historical stigma attached to the phrase debt collection , these agencies prefer to be called commercial… … Big dictionary of business and management
debt collection agency — / det kəˌlekʃən ˌeɪdʒənsi/ noun a company which collects debts for other companies for a commission … Dictionary of banking and finance
debt collection — ➔ collection * * * debt collection UK US noun [U] ► COMMERCE the job of collecting payments from people who have failed to pay the money they owe for goods, services, etc. that they have already received: »We specialize in debt collection and… … Financial and business terms
collection agency — A company hired by a creditor to collect a debt. Creditors typically hire a collection agency only after having tried and failed to collect the debt on their own. Category: Bankruptcy, Foreclosure & Debt → Debt & Collection Agencies Nolo’s Plain… … Law dictionary
Collection agency — A collection agency is a business that pursues payments of debts owed by individuals or businesses. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed. There are many… … Wikipedia
collection agency — A company hired by a creditor to collect a debt. Such agencies are usually taken on only after the creditor has tried (by letters or phone calls) to collect the debt itself. These agencies are regulated by the federal Fair Debt Collection… … Business law dictionary
Fair Debt Collection Practices Act - FDCPA — A Federal law that limits the behavior and actions of debt collectors who are attempting to collect the debt for another person or entity. The law restricts the means and methods by which they can contact the debtor, as well as the time of day… … Investment dictionary
Fair debt collection — broadly refers to regulation of the debt collection industry at both the U.S. Federal and state levels of government. At the Federal level, it is primarily governed by the Fair Debt Collection Practices Act ( FDCPA ). In addition, many U.S.… … Wikipedia
Norwegian National Collection Agency — Type Government agency Industry Financial service Founded 1990 … Wikipedia
Fair Debt Collection Practices Act — (FDCPA) A federal law that applies to debt collectors working for collection agencies and prohibits unfair debt collection practices, such as lying to and harassing debtors. The law does not apply to creditors collecting their own debts.… … Business law dictionary