The commercial collection of third-party receivables or receivables assigned for collection (assignment of collection). – Mostly agencies operate as agents of other companies, and collect debts for a fee or percentage of the total amount owed. – In addition, certain collection agencies – often referred to as bill pushers – also purchase booked-out debts and try to persuade the debtor to make payments, often using ruthless business practices (others work on their own account, purchasing booked-out debts from a creditor and aggressively persuading the debtor to make payments). – The exercise of both types of this line of business is subject to notification pursuant to § 14 GewO. Further services – such as legal advice, granting of credit – are not permitted or require a corresponding license. – The collection of due securities, bills of exchange or other papers against payment. In Germany, such commercial service providers require a license and are subject to supervision by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht). – See arrest money, cash handling, downgrade trigger clause, collection, collection time, first, sad, money collection, collection strategy, grace period, cashing, child deposit, customer, lazy, corpse deposit.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
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