Credit & Collections Law: What You Need To Know

It’s all well and good to keep track of the latest best practices in credit and collections and try to get creative in your methods to collect on open invoices, however, there are laws that need to be followed. There are numerous laws in place that protect consumers and buyers when it comes to collections practices, but usually leave businesses within a narrow scope to do their jobs and collect. If these laws are violated, they could come with some hefty fines and punishments. Your credit and collections teams should at least know the basics of these laws.
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