Debt is that which is owed. A person or company
owing debt is called a debtor. An entity to whom
debt is owed is called a creditor. Debt is used
to borrow purchasing power from the future. Companies
use debt as a part of their overall corporate
finance strategy.
A debt collector is a person who works in the
in-house collections department of an original
creditor or a collection agency to track down
debtors and get them to pay what they owe.
Solicitors
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