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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
Struggling with payment recovery? Learn how outsourced payroll services streamline processes and boost efficiency to recover payments faster.| LTVplus
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A demand letter is a document that gives notice requesting compensation or to right a wrong for a previous action. A demand letter occurs before formal legal action.| Investopedia