I was trying to setup the basic of the Application receivables. While creating the account profile I saw that we need to select the collector in the customer profile class.
From the name its almost evident that it is some one who collect the money but want to read more on this. Then got some links on the net to read, sharing them if it could help others searching the document on receivables.
1. Oracle Doc
2. Small business Notes
Although the basic definition says that It a agency which organization hire to collect the bad debt. In india news are quite common that some agency harass some one due to the debt he or she has taken from the bank has not been paid properly. These agencies are classic example of collector. Although government has set up rule for them and they should work under the framework of law but its rarely happen. In terms of other countries where debtor may sue the Bank or the financial institution if collector goes with unlawfull activities , its all happen within the law framework.
