A debt is a certain past-due amount owed by a second party (consumer, debtor) to a first party (creditor, lender) and is due by a written contract. It represents the failed obligation of a consumer to pay back a monetary sum, before a specific deadline, under an agreement. Debts can be recovered either by a private DCA (Debt Collection Agency) hired by the original creditor or by creditor’s internal financial departments. Collection agencies aim to recover any type of outstanding receivables and bad debts in order to return the amount due to the first party (the creditor) who owns the default. Such default payments occur when a consumer acquires a monetary loan in order to use it for personal needs (purchase of goods, services, etc.) or to finance capital purchases, equipment, etc. (for business corporations). In the first case, the default falls under the name “individual” and in the second is known as business to business or B2B default. A debt occurs as soon as an invoice had become overdue and the payment is late. A late payment is considered as such when the period for returning the amount, specified in the contract, has passed. This is usually between 30 and 60 days from the purchase invoice.