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Collection Agencies

A collection agency is an independent business set up to collect bad debts for a creditor who has been unable to reconcile the debt using their standard billing and collection procedures. Once a creditor has exhausted it’s efforts in collecting a past due account, they will in most cases turn it over to a collection agency, who specializes in collecting debts.

Collection agencies are commonly paid in one of two ways by creditors. Agencies may buy your debt at a discounted price from your creditor. They then keep all amounts collected from you for themselves. Or they may work on a commission basis, collecting a percentage of the money that they have collected on behalf of the creditor and forwarding the balance to the creditor.

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The Commercial Collection Agency Association CCAA represents the most prestigious commercial collection agencies in the United States.

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CollectionLawyers.com25 solid years of proven results in collection and litigation matters in State, Federal and Bankruptcy Courts

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