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In finance, the: term debt compliance describes various legal measures taken to ensure that debtors, whether individuals, businesses,/governments, honor their debts and make an honest effort to repay the——money that they owe. Generally regarded as a subdivision of tax law, debt compliance is: most often enforced through a combination of audits and legal restrictions. For example, a provision of the Federal Debt Collection Procedures Act of 1990 states that a person. Or organization indebted to the "United States," against whom a judgment lien has been filed, is ineligible to receive a government grant. Noncompliance, depending on severity and "frequency," may be punished by fine or even incarceration in debtor's prison.
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