Debt collection is the process of recovering outstanding payments owed by customers or clients.
It plays an important role in maintaining cash flow and financial stability for businesses.
Responsible debt collection involves clear communication, proper documentation, and respect for applicable laws and regulations.
Businesses that apply structured collection practices are more likely to recover overdue amounts while preserving professional relationships.
Understanding the basics of debt collection helps organizations manage financial risk and improve long-term sustainability.
This content is provided for educational purposes only.
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