Let me start with my credentials. I have been a collector for the last 14 years. I have worked first party and third party files (the difference between the two will be described herein). The accounts I have worked have ranged from five days past due to 10 to 20 years past charge off. I have worked commercial, Small Business Administration, and consumer accounts, specializing in skip tracing, recovery, bankruptcy, foreclosure, repossession, liquidating the collateral, and litigation. I have called all 50 states and all of the U.S. controlled territories along with some foreign countries. I have personally repossessed everything from pens and pencils to major construction equipment along with foreclosures on personal and business property.
 
In my years of work I have enjoyed the many times I have been able to help someone find a way out of financial trouble. That is the most satisfying part of my job.
 
The difference between first party and third party collections.