The world of debt collections is fraught with unfamiliar terms and phrases. Reading up on common debt collection terminology will help you communicate with your attorney more efficiently.
Businesses often turn to a debt collection attorney to help collect on outstanding accounts receivable. If your business needs help with out-of-control unpaid invoices, do not let unfamiliar terminology paralyze you. This debt collection glossary will help you understand the most important terms and phrases that you and your debt collection attorney may discuss: