What is professional debt collection svc

What is the definition of professional debt collection service?

Commonly known as third party collectors, professional debt collection services collect on past-due accounts referred to them by various credit grantors.

This include banks, credit card issuers, stock-broking companies, finance companies, leasing companies, car dealers, retail stores, phone companies, healthcare facilities, security firms and supplier of goods companies. In fact, any business that extends credit or offers payment installment plans.

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