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The debt collection industry which includes debt buyers, "in-house collection departments, third-party collection agencies, and collection attorneys", recover and return "billions of dollars in delinquent debt" to "card issuers and other creditors" annually which "increase[s] the availability of consumer credit and reduce[s] its cost". [2]
An organization that specializes in debt collection is known as a collection agency or debt collector. [1] Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed. [ 2 ]
(Here’s a list of other enforcement actions it has taken against other debt collection agencies in the past.) Commonwealth has not responded to CNN Business’ request for comment.
U.S. state laws on fair debt collection generally fall into two categories: laws which require persons who are collecting debts from consumers to be licensed, registered or bonded in order to collect from consumers in their states, and laws that protect consumers from specific unfair practices by debt collectors, which may include collection agencies and sometimes original creditors. [2]
Topping the list are roofers, with more than 3 million inquiries in 2011, up a whopping 39% over 2010. ... collection agencies. used-car dealers. banks. telephone companies. furniture retailers.
Pages in category "Collection agencies" The following 12 pages are in this category, out of 12 total. This list may not reflect recent changes. ...
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