Almost 1 in 5 Young Adults Has Debt in Collections. Here's Why That's a Huge Problem
When a debt reaches the point of being handed over to a collections agency, it means the original creditor has tried to collect on an overdue debt and failed. Debt collectors can call at inconvenient times and use strong language to try to scare you into paying. If your debt has reached a point where it's been turned over to a collections agency, it means you're pretty far behind on it.