Monthly Archives: May 2009

Cash or Credit?

Do you let people order from you, ship the product and let them pay later? Or do you make them pay you cash up front before shipping anything? I have recently had some credit managers ask me how to set … Continue reading

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Posted in Business Credit, Credit Policy Questions | Leave a comment

Is it time to Re-Vamp your Credit Policy?

Do you HAVE a credit policy?  When was it written?  I have worked at companies that are using a credit policy from over 15 years ago. With the changing economy it is imperative to your business that you update your … Continue reading

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Posted in Credit Policy Questions | Leave a comment

Pre-Payment Options

Some business owners have all of their customer pay in advance.  This way they limit their risk to zero and don’t have to try and collect when someone doesn’t pay. This is a great way to limit your risk or … Continue reading

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Credit Manager Poll – How would you like to improve your Credit Management process

In a recent Credit Management Survey where credit managers were asked: If you could make one improvement to your credit management process, what would it be? There were many responses, and I want to share them with you here and … Continue reading

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Posted in Ask Michelle, Business Credit, Checking credit, Collections for Creditors, Credit Policy Questions, FAQ's, Heard on the Street... | Leave a comment

How to determine when to extend credit

If you don’t have the option of pulling credit reports, what tools and resources can a business use to determine if a customer is credit worthy? If you have every customer fill out a credit application (and you should!) then … Continue reading

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Posted in Ask Michelle | Leave a comment

Mistakes I've Made

During my years in business I have made mistakes and learned from them.  I recently had a journalist ask me what mistakes I had made that have been the most beneficial in helping me instruct others in the area of … Continue reading

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Posted in About Michelle Dunn, Ask Michelle, Being a Great Collector, Collection Calls | Leave a comment

Dunn to Answer Reader Questions in "FIRST for Women" National Magazine

People everywhere are asking questions about their credit as the economy continues to suffer and more people lose their jobs, their homes and their credit suffers.  Michelle Dunn has been asked to answer some of those reader questions for FIRST … Continue reading

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Posted in About Michelle Dunn, Ask Michelle | Leave a comment

The Psychology of Debt Collection

The New York Times did a story on May 17, 2009 called What does your credit-card company know about you? by Charles Duhigg. It was very welld one and gives insight to how some debt collectors “work” debtors in order … Continue reading

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Posted in Collection Tools, Debt Collection in the News, Telephone Collection Tactics, The Life of a Bill Collector | Leave a comment

How to Reduce Bad Debt

If you want to reduce your businesses bad debt, you have to know what your terms are, when do you want to be paid?  By setting terms you control when you will or should be paid. Make sure to have … Continue reading

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Posted in Business Credit, Credit Crunch, FAQ's | Leave a comment