collection agency
[/kəˈlɛkʃən ˈeɪdʒənsi/]
nounpl: collection agencies
agência de cobrança
1. a business that collects debts owed to other companies on a commission basis
The collection agency contacted me about my outstanding credit card debt.
A agência de cobrança entrou em contato comigo sobre minha dívida de cartão de crédito em atraso.
2. a company that pursues payment of debts by contacting debtors through phone calls, letters, or legal action
After three months without payment, the creditor hired a collection agency to recover the money.
Após três meses sem pagamento, o credor contratou uma agência de cobrança para recuperar o dinheiro.
In both the US and Brazil, collection agencies are regulated by consumer protection laws. In the USA, the Fair Debt Collection Practices Act (FDCPA) restricts harassment tactics. In Brazil, collection agencies operate under consumer protection regulations and face increasing scrutiny for aggressive practices. Receiving a collection agency notice is viewed negatively in both cultures as it indicates serious payment delinquency and can affect credit scores.
NYC Slang
repo man (colloquial), debt sharks (derogatory)
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