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DEBT COLLECTION INDUSTRY DEEMS ITSELF ESSENTIAL TO “FINANCIAL HEALTH” OF CONSUMERS, FIGHTS COVID-19 SHUTDOWN

Collection Industry News

The Education Department is suspending collections on federal student loans and urging private collection agencies to stop pursuing borrowers. An investigation by ProPublica found that court judgments in debt collection lawsuits were twice as high in black communities compared to mostly white neighborhoods.

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Improving Credit Policy Improves Accounts Receivable

Receivables Control

Reign in Accounts Receivable Exceptions. Credit and accounts receivable management requires flexibility and judgment calls. Educate & Communicate. The credit policy is a compilation of expectations for customers and internal departments and the entire company must get behind it and support it.