Collection agency
![House in Salinas, California, under foreclosure, following the popping of the U.S. real estate bubble.](/Images/godic/202501/08/Foreclosedhome0910.JPG")
A collection agency, also known as a debt collector, is a business or other entity that specializes in debt collection, i.e. pursues payments of debts owed by individuals or businesses. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed.