Debt collection is the process by which a person or entity who is owed money or property seeks payment for the debt. Debt collection may be performed by the person or entity who is owed the debt (the creditor), or may be performed by a third-party debt collector hired by the creditor to collect the debt on behalf of the creditor. Sometimes creditors sell the debt to another entity at a discounted value, and the entity that purchases the debt becomes the creditor.

Debts that are often the subject of debt collection efforts include (1) credit card debt; (2) car or auto loan debt; (3) medical debt; (4) student loan debt; (5) unpaid utility and telephone bills; and (6) personal loan debt.

If you owe money, you have a legal obligation to repay it. But state and federal laws—such as the Fair Debt Collection Practices Act—prohibit debt collectors from using deceptive or abusive behavior to collect the debt.

In Oklahoma, debt collection is regulated by both state statutes and federal law. The Fair Debt Collection Practices Act (FDCPA) is a federal law that sets national standards for the collection of debts, prohibiting deceptive, abusive, or unfair practices by third-party debt collectors. This means that while creditors or third-party debt collectors can seek payment for debts such as credit card debt, auto loans, medical bills, student loans, utility bills, and personal loans, they must adhere to the rules set forth by the FDCPA. For instance, they cannot harass or threaten debtors, must provide validation of the debt if requested, and are restricted in the times they can contact debtors. Oklahoma state law also provides protections and may impose additional requirements on the debt collection process. Debtors in Oklahoma have the right to request that a debt collector cease communication, and in some cases, may have legal recourse if a collector violates state or federal debt collection laws. It's important for debtors to understand their rights and for debt collectors to conduct their activities within the bounds of the law. If a debtor believes their rights have been violated, they may consider consulting with an attorney to discuss potential legal remedies.