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 Tennessee, debt collection is regulated by both state statutes and federal law. The federal Fair Debt Collection Practices Act (FDCPA) sets the standard for the conduct of third-party debt collectors by prohibiting deceptive, abusive, or unfair practices. This includes restrictions on the times of day collectors can call, prohibitions on harassment or abuse, and the requirement that collectors must cease communication if requested in writing. Tennessee also has its own laws that govern debt collection practices, which work in conjunction with the FDCPA to protect consumers. These laws apply to various types of debts, including credit card debt, auto loans, medical bills, student loans, utility bills, and personal loans. Creditors in Tennessee may also sell debts to third-party collectors or debt buyers, who then assume the role of the creditor in the collection process. It's important for consumers to know that while they have a legal obligation to repay debts, they also have rights under state and federal laws that protect them from unfair debt collection practices.