The part of credit policy that dictates how delinquent accounts should be handled is called

Question

Quizplus · Accepted Answer

Developing a collection policy outlines the procedures that should be followed when dealing with delinquent accounts, including how often and in what manner customers should be contacted about their overdue payments, when to involve a collection agency, and when to take legal action. This helps mitigate the risks associated with extending credit and improves the chances of recovering outstanding debt.

The Part of Credit Policy That Dictates How Delinquent Accounts