A debt collection agency is a type of third-party agency that collects debts for a creditor or a government agency. Debt collection agencies can pursue the debtor for payment in person, by mail, telephone, and or legal action if necessary. Debt collection agencies (also known as collection agencies, or simply collection agents) are businesses that collect unpaid debt on behalf of original lenders. Debt collectors purchase debt from the lenders at pennies on the dollar and then try to recover the full amount from debtors. Debt Collection Vs Personal Debt Collection Debt collection is the process or act by ...Read more
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