What You Need To Know About Debt Collectors

By: Undisputed Legal/Court Service Department

All debt collection agencies that seek to collect personal or household debts from New York City residents must have a DCA license no matter where the agency is located. Creditors often use debt collection agencies to help them collect overdue debts. A “creditor” is the individual or business that provided the original service or credit for which you owe money. For example, credit card companies and cellular phone companies are creditors. Sometimes, creditors sell your debt to a third party called a debt buyer. No matter if the debt collection agency is working for a creditor or for itself as the debt buyer, it must have a DCA license and follow all laws or risk fines, penalties, or the suspension or loss of its license. 

This entry was posted in Court Service and tagged , on by .

BLOG DISCLAIMER

The information contained herein has been prepared in compliance with Section 107 of the Copyright Act. Fair use is a legal doctrine that promotes freedom of expression by permitting the unlicensed use of copyright-protected works. The articles/Images contained herein serve as criticism, comment, news reporting, teaching, educational, and research-as examples of activities that qualify as fair use. Undisputed Legal Inc. is a Process Service Agency and “Not A Law Firm” therefore the articles/images contained herein are for educational purposes only, and not intended as legal advice.