Tagged with: bad debt

Bad debt Collection

Bad debt collection Collection of bad debt referres to the whole recovery process of default payments and past-due debts, marked by the creditor as uncollectible. It is described as an attempt to secure a full payment from the debtor on behalf of the original creditor. Debt recovery can be carried out either by a licensed DCA (Debt Collection Agency) or by a financial subdivision within creditor’s corporation. Debt collection is considered as an income and potential profit for the creditor.