Collecting debt
Collecting debt Collecting debt applies to the recovery procedure of default payments and past-due delinquent payments. The process contains different collection tools and approach techniques for the successful collection of bad debts in full from the subject of debt. The debtor is in obligation to settle the outstanding amount, because he is bonded under a specific agreement signed between him and the lender. Debt collection can be performed by a professional debt collection agency, which operates in return of an interest fee charge.