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Tagged with: collection agent


  • Collection agent

    Collection agent A collections agent is an entity, legally licensed to recover default payments and “charge-off” debts on behalf of the original creditor. As the charge-off debts are marked as uncollectible in lender’s financial system, collections agent will bring profit to creditor’s institution after the successful collection of delinquent amounts. Usually such agent represents a registered DCA (Debt Collection Agency), but can act under creditor’s company name as well. In the second case it denotes that the collection agent is part of lender’s corporation.

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