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Debt collection is the process of
pursuing payment for unpaid debt, i.e.
an unpaid invoice. Debt collection can
be pursued by a collection agency, which
can be both private business or a
government authority.
Unpaid debt can be punished through
liens on the debtor's income or assets.
Selling products and services on credit
involves potential risk of non-payments
and delays, which can harm businesses.
One of the important task in managing
credits and insolvencies is outstanding
invoices debt collection. There are
several companies that help in
collection of payments from defaulting
clients to help businesses reduce the
risk of financial losses. |
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