Let me get this straight, the sole purpose of a collection agency is to send you letters and call you on the phone in an attempt to collect a debt for another party who has hired them to do so? BUT the CA is under more restrictive laws than the OC would be in trying to collect these debts? Why dont the OC's of the world just collect their own debts...?
CA only makes money if they collect. Yes, they have more restrictive laws to follow (but rarely do). And to answer your last question, time constraints and the extra expenses they would incur. An OC also can charge the debt off to profit and loss. They can sell the debt to a CA for pennies on the dollar. If the CA collects the full amount, they make a nice little profit on that debt. Gib
--------------------------------------------------------------------------- An OC also can charge the debt off to profit and loss. They can sell the debt to a CA for pennies on the dollar. If the CA collects the full amount, they make a nice little profit on that debt. Gib ~~~~~~~~~~~~~~~~~~~~~ Once an oc sells the debt that should close the account or contract as they have been paid in full
