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. Some 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. 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.
Thursday, May 28, 2009
Debt Collection Services
If your business is in selling services or products, and certainly you have experienced debts in your business. Debts are growth by the customers who fails to pay for your products or services. First when they required your products or services they simply promise to pay your dues but they just far away when you needed your product amount. At that time you needed Debt collection services.
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