Collection cost
From Wikipedia, the free encyclopedia
Cost incurred to collect debt that is owed
A collection cost is the cost incurred to collect debt that is owed, a process called debt collection. This could include expenditures for hiring a collection agency. Some contracts and regulations prescribe liquidated damages for collection costs. When collection costs occur, the debtor has pay off debt to get the collector out of collection cost.[1]
References
[edit ]- ^ "Archived copy" (PDF). Archived from the original (PDF) on 2006年12月31日. Retrieved 2008年07月29日.
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