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Collection Agency
Explanation:
Credit card companies or banks might send your overdue bill(s) to a collection agency, a company that will attempt to obtain your payment.
Our Thoughts:
If this happens, you might be liable for the cost of the collection agency's services as well as the outstanding balance on your credit card or loan. This does serious damage to your credit report.
A collection agency cannot lawfully use or threaten to use violence or other criminal means to harm you, your property or your reputation; use obscene or profane language; publish your name; list your debt for sale to the public; or place telephone calls to you or any other person without identifying himself or herself as a bill collector. If a collection agency goes beyond these boundaries, you have legal rights protecting you.