Collection agency
Collection agency A collection agency is a business specialised in acquiring payments and debts from individuals as well as companies. It provides for customers’ interests by recovering fully or partially the due amounts. Their commission fee is based on the total collected amount. If the pre-legal actions are not successful, the debt recovery agency forces the debt amount recovery by using debt compliance actions leading to trial process. Benefits of hiring a collection agency The usage of a collection agency allows a company to focus on other important aspects of their business.
Collection company
Collection company A collection company is hired to collect outstanding debts, normally operating for a commission percentage/fee of the amount taken from the debtor. In some countries, e.g. the GSA region (Germany, Switzerland, Austria), it is possible that a debt collection company will not charge its clients a fee for the pre-legal procedure, and sometimes even the legal actions can be free of charge. Debt recovery agencies are regulated by different federal laws and collection agencies acts, depending of the country they operate in, e.
Commercial collection agency
Commercial collection agencies? A commercial collection agency executes the process of recovering commercial outstanding amounts or past-due payments on behalf of a first-party, i.e. a creditor. Commercial debt collection is also known as business-to-business debt recovery, where the debtors are companies like the lenders, from which derives the name of such agencies. A commercial debt refers to a default owed by an organisation/business to another organisation/business. A corporate collection agency recovers unsecured commercial debts, e.