Merchants or financial institutions, for example, may want to collect sums of money they claim are owed to them.

Here is an example: You have $2,000 worth of unpaid invoices with a merchant. This merchant could contact you so that you pay your debt.

Debts and creditors

In this situation, the merchant is the creditor. He or she claims that you have a debt with him or her. The creditor then undertakes the procedures to collect this money.

Collection agencies

Instead of collecting the money themselves, merchants can also choose to assign this task to a collection agency.


Last update : August 31, 2020

Were you unable to find an answer to your question? Please call us.

The information contained on this page is presented in simple terms to make it easier to understand. It does not replace the texts of the laws and regulations.