A credit collection policy is likely to include

Question

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A credit collection policy is designed to outline the steps that will be taken to collect outstanding debts. It is unlikely that a policy would include forced jail time or physical intimidation, as these actions would be illegal. Instead, the policy would typically outline the specific actions that will be taken after certain time periods have elapsed, such as sending reminders, making phone calls, or referring the debt to a collection agency. Public announcements would also be unlikely, as these could damage the reputation of the company and potentially violate privacy laws.

A Credit Collection Policy Is Likely to Include