Question

The most effective approach to collecting past-due accounts

is to do what?
a. Remind the debtor that their credit rating may be
impaired.
Ob. Endorse a consolidation loan for the debtor.
c. Contract with a collection agency immediately.
O d. Negotiate extended payments from the debtor.

Answer 1

The most effective approach to collecting past-due accounts is to negotiate extended payments from the debtor.

Step-by-step explanation:

The most effective approach to collecting past-due accounts is to negotiate extended payments from the debtor. This approach allows the debtor to pay off their debt over a longer period, making it more manageable and increasing the likelihood of repayment. By working out a mutually agreeable payment plan, the debtor is more likely to fulfill their obligations without causing damage to their credit rating or the need to involve a collection agency.

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