The Comprehensive Guide to Debt Collection: Do's, Don'ts and Best Practices

June 1, 2023 By Philip Weaver - Revenue Assurance Partners

Understanding the Basics of Debt Collection Definition of Debt Collection Debt collection is the process of pursuing payments of debts owed by individuals or businesses. An agency that specializes in debt recovery is often known as a collection agency or debt collector. Importance of Effective Debt Collection Effective debt collection is critical to maintain cash flow, reduce bad debt, and ensure the financial health of a business. An efficient collections process decreases the chances of ...

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