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Debt collection

What is a debt collector?

Under the federal Fair Debt Collection Practice Act, a debt collector generally is a person or a company that regularly collects debts owed to others, usually when those debts are past-due. Debt collectors include collection agencies or lawyers who collect debts as part of their business. There are also companies that buy past-due debts from creditors or other businesses and then try to collect them. These debt collectors are also called debt collection agencies, debt collection companies, or debt buyers.

 

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