Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Collection Agency Tips and other Collection Agency topics.

What is a collection agency?

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.

Comments

Nobody has commented on this tip yet. Be the first.

Ask a Question

Not finding the advice and tips you need on this Collection Agency Tip Site? Request a Tip Now!

Guru Spotlight

Jennifer Mathes, Ph.D.

Ever wonder how you could make your life better and more fun? So have tens of millions of fans who have turned to LifeTips for answers over the past decade. We keep the tips, advice, books, podcasts and writing services flowing, so you can keep your life and business growing in the right direction. Upward!