collection agency

American  

noun

1. a firm that collects unpaid bills for other firms and is usually compensated by receiving a percentage of the amount collected.

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Example Sentences

At one point, Henry-Halabi received calls from a collection agency that she says came without a warning from her loan holder.

From MarketWatch

At one point, Henry-Halabi received calls from a collection agency that she says came without a warning from her loan holder.

From MarketWatch

In addition, there is typically a significant delay between when fraud is committed and when the victim finds out — often by receiving a letter from a collection agency months later, at which point the evidence trail may have gone cold, Diana said.

From Los Angeles Times

In March 2024, a New York lawyer representing a collection agency contacted one family who worked with SEAM, saying that Side owed a high-interest lender $69,500 and was seeking to recover it.

From The Wall Street Journal

If they’re not paid on time, the fees are sent to a collection agency, and the unpaid fines can affect credit ratings.

From Los Angeles Times