A debt collection agency is a business that pursues an individual or company for money or goods that are owed. Most debt collectors operate as agents for the creditors and charge a fee or percentage of the amount that is owed. There are many different kinds of debt collectors; there are first party agencies that are a subsidiary of the company the debts are owed to. There are also third party agents who are contracted by the company the debt is owed to, and then there are debt buyers who purchase the debt at a fraction of its value then attempt to collect it, making it a more profitable proposition. However the practice of all of these agencies can be aggressive and border on lawfulness. Each country has its own regulations regarding their operations.