Category Archives: Credit Policy Questions

Top 3 Signs a potential customer is a Credit Risk

How can you tell if a customer might be a credit risk?  There are signs you can look for. If they shy away from filling out any paperwork, be cautious.  If someone has good credit and nothing to hide they … Continue reading

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Posted in Being a Great Collector, Business Credit, Checking credit, Credit Crisis, Credit Crunch, Credit Policy Questions, Credit reports, Customer Service, Economic Crisis, Excuses, FAQ's | Tagged , , , , , , | Leave a comment

Setting Credit Limits

You have your signed credit applications, you are having your customers fill them out and checking references. Now your stuck. How do you decide how much credit to extend or if you should extend credit to this person? There are … Continue reading

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Posted in Business Credit, Checking credit, Collection Tools, Credit Policy Questions, Credit reports, Excuses, FAQ's, Foreclosure, Marketing | Tagged , , , , | Leave a comment

Enforcing your Credit Policy

So you finally have a credit policy written and ready to go! How can you get everyone at your company to follow the policy? This can be harder than writing the policy!  First of all, have a metting and give … Continue reading

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Posted in Business Credit, Checking credit, Credit Policy Questions, Education, FAQ's, Helping Debtors, Know your Debtors, Laws, linkedin | Tagged , , , | Leave a comment

Getting a Handle on Credit Management

Who is “In charge” of your business credit? So many people can’t answer this question! Not a good thing! If you can’t answer this question you need to look around and decide who is going to be in charge of … Continue reading

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Posted in Being a Great Collector, Business Credit, Checking credit, Collections for Creditors, Credit Policy Questions, Credit reports, Customer Service, Education, Excuses, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Know your Debtors, Online Collection Techniques, Online payment options, Payment Plans | Tagged , , , , | Leave a comment

What to do if a payment is late

What should I do if a payment from a customer is late? Immediately stop shipping or providing services until you have a conversation with the customer.  Contgact the customer right away, do not wait. The sooner you contact the customer … Continue reading

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Posted in Ask Michelle, Being a Great Collector, Collection Calls, Collection Letters, Collections for Creditors, Collections for Landlords, Credit Policy Questions | Tagged , , , | Leave a comment

Top 7 Debt Collection Tips

Delinquent accounts have always been a part of every business, and now it is an even bigger part of every business and the older the debt becomes, the harder it is to collect. Begin collection efforts immediately once an account … Continue reading

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Posted in Ask Michelle, Being a Great Collector, Business Credit, Collection Calls, Collection Letters, Collection Tools, Collections for Creditors, Credit Policy Questions, Scripts, Skip Tracing, Social Networks, Training | Tagged , , , , , | Leave a comment

What to look for when extending Credit

When you extend credit, you are opening yourself up for risk.  When you do offer credit, you must make some assumptions: That your customer will pay you and has every intention of paying you even after they leave your store … Continue reading

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Posted in Business Credit, Checking credit, Collection Tools, Collections for Creditors, Credit Policy Questions, Credit reports, Customer Service, Economic Crisis, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni | Tagged , , , , , , | Leave a comment

How to Choose a Collection Agency Part 1

How do you know what to look for when you decide to place accounts with a collection agency? It is important to do your homework and learn how to choose an honest and ethical agency. You want to be sure … Continue reading

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Posted in Being a Great Collector, Business Credit, Choosing a Collection Agency, collection agencies, Collection Tools, Collections for Creditors, Collections for Landlords, Credit Policy Questions, Dealing with debt collectors, Economic Crisis, Fair Debt Collection Practices Act, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Laws, The Life of a Bill Collector | Tagged , , , , | Leave a comment

What to do when your Customer’s Don’t Pay

“Persistence is key,” said Michelle Dunn, an expert on collections and the author of the Ultimate Credit and Collections Handbook. “I would put a deadline on when you want to get paid.” Learn more about the best practices and increase … Continue reading

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Posted in Being a Great Collector, Collection Tools, Collections for Creditors, Credit Crisis, Credit Policy Questions, Economic Crisis, FAQ's, Recession | Tagged , , , , , , | Leave a comment