Thank you Adrianna I will use those info you provided , to build my research on this.@krest509 While I haven't done this myself, I have found a couple links that may be of use to you.
The first is a good beginner's guide to starting a business in the first place, with a few details that are specific to starting a collections agency. How to Start a Collection Business From Home
This one, though a bit cheesy with the photos (and its position on WikiHow in general), is great for asking yourself the proper questions before getting started. Do you know enough about finance/debt to run a collections company? Do you have the drive and commitment level necessary to run such a business? How to Start a Collection Agency Business
I hope these help!