Introductory Business Law CLEP Exam 2025 – Your All-in-One Guide to Master the Test!

Question: 1 / 400

What is a debt collection agency?

An agency that helps businesses collect debts from customers

A debt collection agency is a company that assists businesses in collecting unpaid debts from customers. This is done by contacting the individuals who owe the debt and working to arrange payment. Option B is incorrect because debt collection agencies typically work on behalf of businesses, not individuals. Option C is incorrect because debt collection agencies usually do not help individuals collect debts from other individuals. Option D is incorrect because debt collection agencies focus on collecting debts from individuals, not other businesses.

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An agency that helps individuals collect debts from businesses

An agency that helps individuals collect debts from other individuals

An agency that helps businesses collect debts from other businesses

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