A credence debt collector is a third-party debt collection agency authorized to collect debts on behalf of creditors. They are typically hired when a debtor has failed to make payments on a loan or other financial obligation.
Credence debt collectors play an important role in the financial system by helping creditors recover unpaid debts. They also provide a valuable service to debtors by helping them resolve their debts and improve their credit scores. However, it is important to note that debt collectors are not always ethical, and some may engage in illegal or unethical practices.