Debt Collection Services: An Overview

What are Debt Collection Services?

Debt collection services are professional services provided by agencies or firms to recover overdue payments from individuals or businesses. These services are used by lenders, banks, credit card companies, utilities, and other businesses to manage unpaid invoices and outstanding receivables.

Debt collection agencies act as intermediaries between the creditor and the debtor, using structured methods to recover debts while maintaining compliance with legal and ethical standards.

Key Functions of Debt Collection Services

1. Accounts Receivable Management

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