CA$H Maine

Creating Assets, Savings & Hope

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Q. What is a collection agency?

Published on January 7, 2016

A. There are two types of collection agencies: internal and external. Internal collection agencies are within the same creditor as you owe the money to.External collection agencies are companies that have purchased your debt from the creditor you originally borrowed from. You can find out more information here. There are laws that protect you and more information can be found here.

CA$H Maine is a statewide collaboration of ten coalitions, comprised of 50 non- and for-profit partners, working together to help empower Maine individuals and families to achieve long-term financial stability.