Collection and debt recovery is the collection of debts.

Collection means taking measures to recover the borrower’s unpaid debts or overdue payments. This includes requiring the borrower to fulfill its repayment obligations through legal means, negotiation or other legal means. When a person is unable to pay a loan, credit card bill, or other form of arrears on time, the appropriate financial institution, law firm, or professional agency takes action to achieve collection goals and attempt to restore funds to the original lender.