In Short a First-party collection agency is usually an extension of the vested interest that owns the original debt. This usually means that the collection agency has a vested interest in maintaining good customer relationship while attempting to collect the debt. These agency’s are not subject to the same rules and regulations at the other forms of collections agency’s being that the are in fact extensions of the original company money is owed to. If the First-party agency is unable to collect the debt it is usually passed on to a third-party or debt buyer for further action.