Collection Agency Definition - davidorlic.com

2019-08-27 · A collection agency is a company used by lenders, or creditors, to recover funds that are past due, or from accounts that are in default. Often, a creditor will hire a collection agency after it has made multiple failed attempts to collect its receivables. A lender may outsource the debt-collection. Debt collection is the process of pursuing payments of debts owed by individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. Most collection agencies operate as agents of creditors and collect. Definition of collection agency: Firm specializing in obtaining 1. collection agency. Definition. recovering in part or in full amounts due, or 3 taking court action to force the recovery. collection collection acco. electronic bill. self-assessment zombie debt debt compliance secondary. collection agency Managed care An enterprise that demands payment for a product sold or a service rendered, after an appropirate period of time has passed and the purchaser has not paid the seller. Define collection agency. collection agency synonyms, collection agency pronunciation, collection agency translation, English dictionary definition of collection agency. Any individual, organization, or unit that has access to sources of information and the capability of collecting information from them.

Collection agency definition, a firm that collects unpaid bills for other firms and is usually compensated by receiving a percentage of the amount collected. See more. Definition of collection agency in thedictionary. Meaning of collection agency. What does collection agency mean? Information and translations of collection agency in the most comprehensive dictionary definitions resource on the web.

collection agency meaning: a business that collects money that is owed to other companies for them:. Learn more. Definition of collection agency, medical bills in the Legal Dictionary - by Free online English dictionary and encyclopedia. What is collection agency, medical bills? Meaning of collection agency, medical bills as a legal term. What does collection agency, medical bills mean in law? When an account is sent to a collection agency, either the original creditor or the collector updates the account on your credit report with a "collection" status. The creditor doesn't have to tell you that your account is being sent to collections. 2014-10-28 · Collection agents could also contact family, friends, and neighbors of the borrower in order to confirm the contact information that they have on file for the individual, but they cannot disclose the reason for trying to reach the person. An agent may choose to.

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