Debt collection agency definition

Debt collection agency means an entity or institution that collects unpaid or past due debts on behalf of credit providers and such agency may include a legal practitioner involved in collection of debt on behalf of individuals or businesses;
Debt collection agency means a person engaged in business the principal purpose of which is to regularly collect or attempt to collect debts owed or due or asserted to be owed or due to another and shall also include a buyer of delinquent debt who seeks to collect such debt either directly or through the services of another by, including but not limited to, initiating or using legal processes or other means to collect or attempt to collect such debt. The term does not include:
Debt collection agency means a person, firm or corporation

Examples of Debt collection agency in a sentence

  • Debt collection agency administration fees will amount to at least 15% of the total unpaid balance including interest fees with a minimum of €250, - (two hundred and fifty euro).

  • Follow up of non-payment will generally be referred to a Debt collection agency where collection is unsuccessful.

  • Debt collection agency – key findings • The previous policy states that 8% of the recharge is applied to the debt once passed to the debt collection agency.

  • Should An account be referred for debt collection the Client acknowledges and agrees to pay debt collection charges to be Calculated at not less than 20% plus GST and will be incurred On the day the Company refers the matter to their nominated Debt collection agency.

  • Debt collection agency Underpinning this, firms have focused on several areas.

  • Debt collection agency – If your debt gets passed to a debt collection agency, they will chase you for the debt and may add more charges to you for sending out letters etc.

  • Collection agency services (CPC 87902)In CZ: Unbound.In DK: Debt collection agency services are regulated by Law No. 319 of 14 May 1997 (with subsequent amendments) on debt collection.

  • If the iPad is not returned, the School reserves the right to employ a Debt collection agency to recover the iPad or sufficient funds to replace the iPad.

  • Remedies for payments outstanding may include VETTA PRODUCTIONS PTY LTD engaging a Debt collection agency to act on the company’s behalf.

  • Debt collection agency A specialist company that dedicates time and resource to recover debts on behalf of its clients.


More Definitions of Debt collection agency

Debt collection agency means an entity or institution that collects unpaid or past due debts for other businesses, creditors or lenders, and this may include legal practitioners involved in collection of debts on behalf of individuals or businesses;
Debt collection agency legal entity identified as such in the list of the contracting parties on the first page of the General Terms.
Debt collection agency means any person or entity with whom the Department has contracted for the collection of taxpayers’ liabilities, as authorized pursuant to Section 213.27, F.S. “Private auditor” means a certified public accountant with whom the Department has contracted to audit taxpayer accounts pursuant to Section 213.28, F.S.
Debt collection agency means any person or entity with whom the Department has
Debt collection agency means “OOO Debt Collection Agency”, a limited liability company established under the laws of the Russian Federation.
Debt collection agency means a person engaged in business

Related to Debt collection agency

  • Debt collection means the collection of unpaid tolls and applicable administrative fees by (i) 750 retention of a third-party debt collector or (ii) collection practices undertaken by employees of a toll 751 facility operator that are materially similar to a third-party debt collector.

  • Collection agency means a person that is directly engaged in collecting or attempting to collect a claim owed or due or asserted to be owed or due another, or repossessing or attempting to repossess a thing of value owed or due or asserted to be owed or due another person, arising out of an expressed or implied agreement. Collection agency includes an individual who, in the course of collecting, repossessing, or attempting to collect or repossess, represents himself or herself as a collection or repossession agency, or a person that performs collection activities that are regulated under article 9 of the occupational code, 1980 PA 299, MCL 339.901 to 339.920. Collection agency includes a person that furnishes or attempts to furnish a form or a written demand service that is represented to be a collection or repossession technique, device, or system to be used to collect or repossess claims, if the form contains the name of a person other than the creditor in a manner that indicates that a request or demand for payment is being made by a person other than the creditor even though the form directs the debtor to make payment directly to the creditor rather than to the other person whose name appears on the form. Collection agency includes a person that uses a fictitious name or the name of another in the collection or repossession of claims to convey to the debtor that a third person is collecting or repossessing or has been employed to collect or repossess the claim.

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Net Collections With respect to any Corrected Mortgage Loan, an amount equal to all payments on account of interest and principal on such Mortgage Loan.

  • Funding Agency means an organization or individual which provides facilities to receive and accumulate assets to be used either for the payment of benefits under a pension plan, or for the purchase of such benefits, provided such accumulated assets form a part of a pension plan established for the exclusive benefit of the plan participants and their beneficiaries. The fair market value of the assets held by the funding agency as of a specified date is the Funding Agency Balance as of that date.

  • Interest Collections means, (i) with respect to any Loan Asset, all payments and collections attributable to interest on such Loan Asset, including, without limitation, all scheduled payments of interest and payments of interest relating to principal prepayments, all guaranty payments attributable to interest and proceeds of any liquidations, sales, dispositions or securitizations attributable to interest on such Loan Asset and (ii) amendment fees, late fees, waiver fees or other amounts received in respect of Loan Assets.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Finance Charge Collections means Collections of Finance Charge Receivables.

  • Collection Agent means at any time the Person then authorized pursuant to Section 6.01 to service, administer and collect Transferred Receivables.

  • Debt collector means any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due another. The term also includes any creditor who, in the process of collecting its own debts, uses any name other than its own which would indicate that a third person is collecting or attempting to collect such debts. The term also includes any person to the extent such person receives an assignment or transfer of a debt in default solely for the purpose of facilitating collection of such debt.

  • Available Finance Charge Collections means, for any Monthly Period, an amount equal to the sum of (a) the Investor Finance Charge Collections for such Monthly Period, (b) the Series 2012-1 Excess Finance Charge Collections for such Monthly Period, (c) Principal Accumulation Investment Proceeds, if any, with respect to the related Transfer Date, (d) interest and earnings on funds on deposit in the Reserve Account which will be deposited into the Finance Charge Account on the related Payment Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(a), and (e) amounts, if any, to be withdrawn from the Reserve Account which will be deposited into the Finance Charge Account on the related Transfer Date to be treated as Available Finance Charge Collections pursuant to Section 4.10(c).

  • Fundserv Notes means Notes purchased through Fundserv.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Finance Charge Receivables means Receivables created in respect of periodic finance charges, late fees, returned check fees and all other similar fees and charges billed or accrued and unpaid on an Account.

  • Collection Agent Fee has the meaning specified in Section 6.03.

  • Investor Finance Charge Collections means, with respect to any Distribution Date, an amount equal to (a) the product of (i) the Floating Allocation Percentage for the related Due Period and (ii) Allocable Finance Charge Collections deposited in the Collection Account for the related Due Period, minus (b) the aggregate amount of Servicer Interchange for the related Due Period.

  • Principal Collections means Collections of Principal Receivables.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Financing agency means a bank, finance company, or other person that in the ordinary course of business makes advances against goods or documents of title or that by arrangement with either the seller or the buyer intervenes in ordinary course to make or collect payment due or claimed under the contract for sale, as by purchasing or paying the sellers draft or making advances against it or by merely taking it for collection whether or not documents of title accompany or are associated with the draft. "Financing agency" includes also a bank or other person that similarly intervenes between persons that are in the position of seller and buyer in respect to the goods under section 2707.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

  • Investor Interest Collections means, for a Deposit Date or Collection Period, an amount equal to the product of (a) the Floating Investor Percentage for the related Collection Period, times (b) the Interest Collections for that Deposit Date or Collection Period, as applicable.

  • Investor Principal Collections means, with respect to any Monthly Period, the aggregate amount retained in the Collection Account for Series 2007-A pursuant to Section 4.01(c)(ii) for such Monthly Period.