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What Is Collection?

Collection is the process by which creditors attempt to get payment from nonpaying debtors. This process can be performed by the creditor or by a collection agency that the creditor has hired. A collection agency is a company that aggressively pursues debtors to collect money for the creditor.

Collecting Money Owed to Me

There are several debt collection practices that you can use to try to persuade your debtor to pay the debt:

What Can a Collection Agency Legally Do to Collect Payments?

Collection agencies tend to use aggressive tactics to collect money owed. These tactics, however, must not violate the Fair Debt Collection Practices Act (FDCPA). This act limits what actions a collection agency can take in its effort to collect payments.

For example, a collection agency cannot:

There are also several things a collection agency must do once it has contacted a debtor. The collection agency must disclose:

What If a Collection Agency Has Violated the FDCPA?

There are several things a debtor can do if a collection agency has done anything illegal in violation of the Fair Debt Collection Practices Act (FDCPA).

Do I Need an Attorney for My Collections Problem?

An adept attorney can help send demand letters to debtors who owe you money, or determine whether a creditor is violating the FDCPA. If you are forced to go to court, an attorney can guide you through the complicated legal process. Whether you are the debtor or the creditor, a lawyer will know all the ins-and-outs of debt collection and help get the results you want.

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Last Modified: 04-14-2015 01:49 PM PDT

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