Is a regular debt collection company legal?

Legal analysis: Regular debt collection companies are illegal. There is no legal basis for debt collection companies to undertake agency accounts to collect debts, and they lack the authority and administrative coercive power given by law. The existence of debt collection companies not only disturbs the normal production, work and life order of enterprises, institutions and citizens, but also endangers social order, encourages illegal debt collection activities underground and causes adverse effects in society.

Legal basis: Circular of the State Economic and Trade Commission, the Ministry of Public Security and the State Administration for Industry and Commerce on Banning Various Debt Collection Companies and Combating Illegal Debt Collection Activities Article 1 All kinds of debt collection companies are banned, and it is forbidden for any unit or individual to set up any form of debt collection companies. Those who continue to engage in illegal debt collection activities and infringe upon the legitimate rights and interests of citizens, legal persons and other organizations should be resolutely punished according to law.