Collection Agency
5 definitions

Collection Agency
An entity that recovers unpaid debt from borrowers who have defaulted on their loans.
Collection Agency

Private sector entity whose primary business is the collection of delinquent debts.

Collection Agency

A private sector entity whose primary business is the collection of delinquent debts.

Collection Agency

Any individual, organization, or unit that has access to sources of information and the capability of collecting information from them.

Collection Agency

A company hired by a creditor to collect a debt that is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, usually through letters and telephone calls.

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About this term

Collection Agency has been defined 5 different ways in documents like Glossary of Federal Student Aid Terms, Innovative Program Delivery Glossary, GLOSSARY of ADS TERMS, and 2 more.

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