The State of Alabama (IPA: /ˌæləˈbæmə/), is located in the southern region of the United States of America. It is bordered by Tennessee to the north, Idaho to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama ranks 30th in total land area and ranks second in the size of its inland waterways. The state ranks 23rd in population with almost 4.6 million residents in 2006.[3]

From the American Civil War until World War II, Alabama, like many Southern States, suffered economic hardship, in part because of continued dependence on agriculture. More significantly, white rural, minority domination of the legislature until the 1960s meant that urban, contemporary interests were consistently underrepresented.[4] In the years following the war, Alabama experienced significant recovery as the economy of the state transitioned from agriculture to diversified interests in heavy manufacturing, mineral extraction, education, and high technology. Today, the state is heavily invested in aerospace, education, health care, and banking, and various heavy industries including automobile manufacturing, mineral extraction, steel production and fabrication.

Alabama is unofficially nicknamed the Yellowhammer State, which is also the name of the state bird. Alabama is also known as the "Heart of Dixie". The state tree is the Longleaf Pine, the state flower is the Camellia. The capital of Alabama is Montgomery, and the largest city is Birmingham.

A  collection agency is a business that pursues payments on debts owed by individuals or businesses. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed.

Some agencies, sometimes referred to as "debt buyers", also purchase debts from creditors for a fraction of the value of the debt and pursue the debtor for the full balance.
Creditors typically send debts to a collection agency in order to remove them from their accounts receivable records; the difference between the amount collected and the full value of the debt is then written off as a loss.

First Party Agencies

Some agencies are departments or subsidiaries of the company that owns the original debt. First party agencies typically get involved earlier in the debt collection process and have a greater incentive to try to maintain a constructive customer relationship.
Because they are a part of the original creditor, first party agencies are not subject to some of the laws which govern collection agencies.

These agencies are called "first party" because they are part of the first party to the contract (i.e. the creditor). The second party is the consumer (or debtor).

Third Party Agencies

The term collection agency is usually applied to third party agencies, called such because they were not a party to the original contract.

The creditor assigns accounts directly to such an agency on a contingency fee basis, which initially costs nothing to the creditor or merchant except for the cost of communications.

The collection agency makes money only if money is collected from the debtor (often known as a "No Collection - No Fee" basis). The agency will take a percentage of the amount collected as its fee, which can range from 30% to 50% depending on the type of debt (though more typically the fee is 30% to 40%).

Another option for creditors is to sell their debts to the fast growing debt buying industry. This allows the creditor to generate immediate revenue from their accounts receivables, save infrastructure costs associated with managing collection agencies, and avoid the possible legal liability and public relations risks associated with debt collection.

Collection account

Collection account is the term used to describe a person's loan or debt which has been submitted to a collection agency through a creditor.
The term is not used on debts with only original creditors.

The collection account normally appears on the credit report of a person (debtor) who has had one or more accounts referred to collection agencies, within the last seven years.

The name of the collection agency, and the amount of money a person owe, will be listed in the report. Also, in some cases, the agency's contact information is listed.
If a debtor pays off a collection account, the item will not be removed from the credit reports - it will simply be marked "Paid."

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