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How Debt Collectors Work

Taurus Collect

That’s where a debt collections service steps in—a critical intermediary that takes on the task of pursuing delinquent accounts to ensure that owed funds are recovered. Introduction Debt collectors, often viewed with a mix of apprehension and uncertainty, play a significant role in the credit economy.

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There are 7,060 collections agencies in the U.S.—here’s what to do you if your credit card debt is sent to one

Collection Industry News

To start digging out of debt that’s already in collections, “get some help quickly,” says Eweka. Contact the National Foundation for Credit Counseling (NFCC) and ask to work with a nonprofit credit counselor. million cases to 4 million cases nationwide.