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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