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Debt is a financial obligation owed by one party to another party. Repayment usually includes an interest charge.| Investopedia
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A debtor is a company or individual who owes money to a lender. Debtors are also often referred to as borrowers. Read about the laws that protect them.| Investopedia
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A collection agency is a company used by lenders to recover funds that are past due or from accounts that are in default.| Investopedia