debt recovery
Chasing owed money
Debt recovery is the process of pursuing payment of money owed by individuals or businesses who have failed to pay.
The term covers methods ranging from reminder letters and phone calls to legal action and hiring collection agencies.
The company specializes in debt recovery for medical providers.
Recovery implies retrieving something lost—here, money that should have been paid but wasn't.
- charge-offDeclaring debt uncollectible
- creditorOne owed money
- debtorOne who owes
- garnishmentCourt-ordered debt collection
- asset seizureLegal taking of property
repossession · delinquency · arrears · final notice · payment demand · payment plan · skip tracing · dunning · collection agency · pay up · bailiff · bankruptcy law · interest rates · statute of limitations · small claims court · principal balance · judgment · court order
- debtcreditor, owe, debtor, lender, unpaid
- debt collectiongarnishment, late payments, delinquent accounts, collection agencies, collection call
- business lawsuitscontract disputes, breach of contract, securities fraud, corporate fraud, trade disputes
- civil courtscivil cases, civil claims, civil litigation, civil procedure, court hearings
- commercial lawcommercial law, trade law, commercial transactions, business contracts, trade regulations
- debt enforcementgarnishment, wage garnishment, levy, seizure, writ of execution
debt recoverylending
Temporary provision of resources
money lending · financing · investment · disbursement · giving credit
debt recoverydebt forgiveness
Cancellation of amounts owed
debt cancellation · debt relief · loan forgiveness · debt waiver · loan modification