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Notice of Assignment to Collection Agency

After multiple notices of late payment and/or demand for payment a company may need to take action with regards to a customer who shows intent to avoid payment. Often a company may assign a debtor to a collection agency who will then be in charge of retrieving payment from the debtor. A collection agency will either buy the debt outright or receive a percentage of the payments when or if they are received. Use this document to notify a debtor of your full intention to collect on the account, and let the debtor know you are turning the account over to a collection agency.

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