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What are collection agencys?

In: Debt Collection [Edit categories]

Answer:

A Collection Agency pursues payments of debts on behalf of their clients. It can be categorized by Collection Agencies for Consumer and Commercial.

Consumer is when a Lender provides credit for services or products to a Consumer, and when this accounts fail to pay, then the lender may use to collect the debt through a Collection Agency.
Commercial is the same concept but collecting debt from business to another business, this is known as Commercial Collection Agency

First answer by Burt associates. Last edit by Burt associates. Contributor trust: 3 [recommend contributor ]. Question popularity: 1 [recommend question].

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Commercial Collection Agency

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Relevant answers:

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yes and do all the time and the old agentcy will still show on credit report Answer . It can be bought and sold as many times as the agencys want to move it around
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