What are collection agencys?

A Collection Agency pursues payments of debts on behalf of their clients. It can be categorized by Collection Agencies for Consumer and Commercial.

Consumer is when a Lender provides credit for services or products to a Consumer, and when this accounts fail to pay, then the lender may use to collect the debt through a Collection Agency.

Commercial is the same concept but collecting debt from business to another business, this is known as Commercial Collection Agency