June 17, 2005, Newsletter Issue #10: Collection Agency Newsletter from Lifetips.com!

Tip of the Week

What is a Collection Agency?

A collection agency is an organization that obtains or arranges for payment of money owed to a third party; this could be a person or a company. Sometimes this is even a task taken on by an attorney or a law firm. The collection agency typically develops a fee structure based on a percentage of the moneys collected from bad debtors.

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Carma Spence-Pothitt