![cover image](https://wikiwandv2-19431.kxcdn.com/_next/image?url=https://upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Collection_Bureau_Brick_Building%252C_Little_Falls%252C_Minnesota_%252835241011591%2529.jpg/640px-Collection_Bureau_Brick_Building%252C_Little_Falls%252C_Minnesota_%252835241011591%2529.jpg&w=640&q=50)
Debt collection
Pursuit of debt payments owed by an individual or business / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Collection agency?
Summarize this article for a 10 year old
SHOW ALL QUESTIONS
"Debt collector" redirects here. For other uses, see Debt collector (disambiguation).
Debt collection is the process of pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector.[1] Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed.[2] Historically, debtors could face debt slavery, debtor's prison, or coercive collection methods. In the 21st century in many countries, legislation regulates debt collectors, and limits harassment and practices deemed unfair.
![]() | It has been suggested that Cash collection be merged into this article. (Discuss) Proposed since January 2024. |
![](http://upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Collection_Bureau_Brick_Building%2C_Little_Falls%2C_Minnesota_%2835241011591%29.jpg/640px-Collection_Bureau_Brick_Building%2C_Little_Falls%2C_Minnesota_%2835241011591%29.jpg)