collection agencies
Overdue bill pursuers
Collection agencies are businesses that pursue payment of debts owed by individuals or companies.
Creditors hire them to recover unpaid bills—medical expenses, credit card balances, utility accounts.
They typically take a percentage of what they collect.
Collection agencies have a reputation for aggressive tactics: repeated phone calls, threatening letters, pressure campaigns.
In the U.S., the Fair Debt Collection Practices Act limits what they can legally do.
The hospital sent my bill to a collection agency after six months.
- credit card debtMoney owed on plastic
- outstanding balanceSum still due
- phone callsAuditory telecommunication sessions
- payment plansScheduled purchase installments
- demand lettersLegal payment requests
final warning · negotiation · settlements · accounts receivable · statute of limitations · student loans · licensing requirements · dispute resolution · garnishment · personal loans · skip tracing · bankruptcy laws · text messages · harassment · cease and desist · repossession · privacy laws · charge-offs
- creditorslenders, moneylenders, banks, credit unions, bondholders
- debt collectiongarnishment, late payments, delinquent accounts, arrears, skip tracing
- debt lawcreditor, debtor, debt recovery, creditors, debtors
- intermediariesmiddleman, middlemen, go-between, go-betweens, broker
collection agencieslenders
Those who provide loans
creditors · banks · mortgage lenders · credit unions · lending institutions
collection agenciesgrant programs
Organized financial awards
charitable foundations · scholarship funds · welfare agencies
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