Debt recovery agency
Debt recovery agency A debt recovery agency refers to a private organisation, specialising in collecting bad debts and delinquent amounts from debtors on behalf of a first party- a creditor. A DCA (Debt Collection Agency) usually recovers unsecured debts, which are not followed by a collateral. They can be either B2B debts (“business-to-business”, also known as “commercial” debts) or consumer (individual) debts. A debt recovery agency can provide recovery services within one country, or on an international level.
Debt recovery company
Debt recovery company A debt recovery company is considered as such when it is registered and licensed to carry out the debt collection process. Diverse state and national laws regulate the actions of debt recovery companies. In order to operate as such, a debt collection agency has to perform not only legal but also ethical recovery process as well. A debt collection company offers various collection services always in return for a payment (collected either from the subject of debt or from the creditor).