What Exactly Is A Debt Collection Agency?

A debt collection agency is a company or individual authorized to act as a third party on behalf of a creditor to obtain payment from a past-due customer. The history of debt collection agencies is as old as commerce itself. As long as creditors allow customers time to repay debts there will be a need for debt collection agencies.

Typically, a debt collection agency gets paid a commission depending on how much money they recover for their customers. Historically, the commission debt collection agencies charge runs between 20% to 50%. They will usually charge a higher fee if the debt is older or if it’s expected to be more difficult to collect.

Debt Collection Agency Michigan

Account Adjustment Bureau has been collecting debts for nearly 50 years. If your firm is looking for a debt collection agency, contact us today and have a confidential discussion on how you might benefit from retaining our services.