What is the difference between a debt collector and a creditor?

A debt collector and a creditor are two different entities in the world of consumer debt defense law in Nevada. A creditor is a person or organization that has lent money or extended credit to another individual or organization. They have a legal right to collect the loan or credit that was extended. On the other hand, a debt collector is an individual or organization that is hired to collect a debt or credit that is due. The debt collector will contact debtors and attempt to collect on the debt that is owed. They may use tactics such as letters, phone calls, or even legal action to collect the debt. Debt collectors usually work on behalf of creditors, but they are not the original lenders or creditors. They will often take a commission for their services. This commission is separate from the original creditor and is paid directly to the debt collector. In conclusion, a creditor is an individual or organization that has lent money or extended credit to someone, while a debt collector is an individual or organization that is hired to collect a debt or credit that is owed. They will often use tactics such as letters, phone calls, or legal action to collect the debt.

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What is the difference between a debt collector and a creditor?

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