What is credit card recovery?
If you do not pay off your bills for 190 days, that is, over 6 months, your credit card account will be put under the recovery pool. This means that the bank sees your credit card account as a loss. Now, they may file a lawsuit against you or sell your debt to a debt collection agency.
If you do not pay off your bills for
Collection agencies. A collection agency is a company that the creditor hires to collect the debt on the creditor's behalf. Collection agencies usually get paid with a
Debt recovery is when a loan—such as a credit card balance—continues to go unpaid, and a creditor hires a third party, known as a collection The Debt Collection Process · Debt Recovery Process · Fair Debt Collection...