Collection agency
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Details
A collection agency is a business that pursues payments on 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. An increasing number of agencies, sometimes referred to as "debt buyers", purchase debts from creditors for a fraction of the value of the debt and pursue the debtor for the full balance, or even include "interest" in the balance owed. Creditors typically send debts to a collection agency in order to remove them from their accounts receivable records; the difference between the amount collected and the full value of the debt is then written off as a loss. In many countries, collection agencies are governed by laws that prohibit certain abusive practices. Failure to adhere to such laws may result in lawsuits or government regulatory actions. Collection practices in the United States are generally, but not always, governed by the Fair Debt Collection Practices Act.
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GarantieWeitere Informationen
- Allgemeine Informationen
- GTIN 09786130268718
- Editor Frederic P. Miller, Agnes F. Vandome, John McBrewster
- Sprache Englisch
- Genre Wirtschaft
- Größe H220mm x B150mm x T4mm
- Jahr 2009
- EAN 9786130268718
- Format Fachbuch
- ISBN 978-613-0-26871-8
- Titel Collection agency
- Untertitel Debt, Creditor, Debt buyer, Debtor, Accounts receivable, Write- off, Fair Debt Collection Practices Act, Tax refund interception, Predictive analytics, Consumer debt, Bond (finance), External debt
- Gewicht 125g
- Herausgeber Alphascript Publishing
- Anzahl Seiten 72
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