collection agency

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Related to Debt collection: debt collectors

collection agency

Managed care An enterprise that demands payment for a product sold or a service rendered, after an appropirate period of time has passed and the purchaser has not paid the seller. See Dun.
References in periodicals archive ?
Contractors will be required to pursue debt collection activities which parallel existing industry procedures that have proven to be effective and efficient; to interact with government representatives at denned stages of the collection process (i.
The Kirkby company was named "consumer debt collection agency of the year" in the subpounds 2m turnover category at Credit Today's Debt Collection Awards.
I wonder how many other people are in this position - a debt collection agency have acted inappropriately but they can't prove it.
As it's written, the FDCPA only applies to consumer debts and third-party debt collection agencies, meaning that inhouse collection professionals seeking a business debt don't necessarily have to comply with these many tenets.
Through Quantum, we have the opportunity to build a nationally recognised debt collection offering.
Debt Collect UK's Steven Little said: "To get a debt collection agency involved for that amount is ridiculous.
However, debt collection experts said they would not touch such a "ridiculous" contract due to the low amount of money at stake.
The Office of Fair Trading (OFT) is drawing up new debt collection guidance, making it clear that its rules apply to all businesses involved in debt recovery, ranging from lenders to debt collection firms and debt buyers, as well as law firms and tracing agents.
This is why businesses really need a debt collection strategy - to take the appropriate action for each debt and not assume that the same action will work for all debtors.
In our opinion, all financial services industries are not created equal and to include the debt collection industry in this new law is over-reaching.
The company has been providing billing and debt collection services for various power, water as well as telecom utilities such as Omantel.
There has always been a steady demand for debt collection, said owner Tom Wasley, but the recession has increased that demand.