Tag Archives: business debt collection

Debt collection and collection agencies are an institution of our bleeding economic system. Collection agencies have existed in one way or another since the advent of capitalism in the seventeenth century. Capitalism was constructed on credit, loans, and debt. Pioneers in capitalism discovered very quickly that they had to put a debt collection mechanism in place to protect their bottom line. In a system built around credit, loans, and risk-taking there is bound to be failures and money lost. Collection agencies used to provide a cushion for investors to lend money to entrepreneurs with greater assurance. Today however collection agencies do not have the same clout as they once did. Continue reading →