Debt collection agency
A business instructed to collect overdue debts on behalf of a creditor, or sometimes collecting debts it has purchased.
Related terms
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Recovery action
Steps taken by a creditor to recover overdue money, from contact and negotiation through to court or enforcement.
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Debt recovery
The process of pursuing payment of money that is overdue, from initial contact through to legal enforcement where necessary.
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Enforceable debt
A debt that a creditor is legally entitled to pursue and enforce, subject to any procedural requirements.
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