Debt collection is one of the oldest professions around. As long as people have borrowed money, there has been a need to collect that-which-is-owed for its rightful owner. Debt collection agencies and debt collection attorneys are just the most recent evolution in a long line of commercial and legal procedures and regulations.
Debt Collection in Antiquity
Debt collection history goes back as far as the history of debt. The earliest record of commercial debt collection comes from ancient Babylon—a society that protected debtors’ rights but also allowed creditors to recoup delinquent accounts.