What does collection agency mean?
Definitions for collection agency
col·lec·tion agen·cy
This dictionary definitions page includes all the possible meanings, example usage and translations of the word collection agency.
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Wikipedia
collection agency
Debt collection is the process of pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be 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 debts for a fee or percentage of the total amount owed. Historically, debtors could face debt slavery, debtor's prison, or coercive collection methods. In the 21st century in many countries, legislation regulates debt collectors, and limits harassment and practices deemed unfair.
Wikidata
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 types of collection agencies. First-party agencies are oftentimes subsidiaries of the original company the debt is owed to. Third-party agencies are separate companies contracted by a company to collect debts on their behalf for a fee. Debt buyers purchase the debt at a percentage of its value, then attempt to collect it. Each country has its own rules and regulations regarding them.
Dictionary of Military and Associated Terms
collection agency
Any individual, organization, or unit that has access to sources of information and the capability of collecting information from them. See also agency.
Numerology
Chaldean Numerology
The numerical value of collection agency in Chaldean Numerology is: 5
Pythagorean Numerology
The numerical value of collection agency in Pythagorean Numerology is: 1
Translations for collection agency
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"collection agency." Definitions.net. STANDS4 LLC, 2024. Web. 29 Apr. 2024. <https://www.definitions.net/definition/collection+agency>.
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