When it all started, record companies - and there were many of them, and this was a good thing - were run by people who loved records, people like Ahmet Ertegun, who ran Atlantic Records, who were record collectors. They got in it because they loved music... Now, record companies are run by lawyers and accountants.
If you're doing something like scheduling utility payments to come through your debit card or out of your personal checking account, that's perfectly fine. But there are much safer ways to handle situations with debt collectors. You can send a money order overnight, or wire the cash to them.