Debt Is a Situation That Arises with Many Consumer-Retailer Transactions

True/False

Debt is a situation that arises with many consumer-retailer transactions. However, in some cases unpaid debt becomes a serious problem forcing some retailers to use collection agencies to gather monies owed to them by consumers. As a result, the Consumer Protection Act includes specific provisions to govern these agencies. Although it requires them to be licensed, it imposes very few restrictions on the manner in which the agencies collect the money.