< Financial Dictionary

The action of transferring accounts deemed un collectible (delinquent) to a category such as bad debt or loss. Collectors will usually continue to solicit payments via statements and collection efforts, but the accounts are no longer considered part of a company's receivable or profit picture. Collection agents tend to be very aggressive when dealing with consumers. If you are being harrased by collection agents, you should seek professional help from a qualified debt settlement company.

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