Monthly Archives: March 2011

Managing your Business Credit

There are so many reasons you should have a credit management plan, I will list some of the most important reasons here: •           A credit management plan will provide timely notification to your customers regarding any past due amounts, therefore … Continue reading

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Posted in Business Credit, Collection Tools, Collections for Creditors, Credit Crisis, Credit Policy Questions, Economic Crisis, FAQ's | Tagged , , , | 1 Comment

Understanding Credit Risk

In business, almost all companies carry some credit risk. Most companies do not demand up front cash payments for all products delivered and services rendered.  Instead, most companies deliver the product or service, and then bill the customer, often specifying … Continue reading

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Posted in Business Credit, Collections for Creditors, Credit Policy Questions, Economic Crisis, Education, Recession | Tagged , , , | Leave a comment

Why you have Credit Problems

Your credit management plan is a two-way street, you create the rules and your customers have to play by them if they want to do business with you.  If your customers don’t follow your rules, they are out of the … Continue reading

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Don't play games with Cash

Good management of credit is crucial to your business.  If you can’t manage the cash and credit that flows through your business your business will fail.  You must respect your cash and manage it properly in order to be successful. … Continue reading

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Do you know your Interest Rate?

Did you know that over 70% of American consumers that use credit cards have no idea what interest rates they are paying? Most credit problems are unexpected.  No one gets credit for things with the intention of not paying and … Continue reading

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Posted in Ask Michelle, Business Credit, Credit Crisis, Economic Crisis, FAQ's, Improve Your Credit | Tagged , , , | Leave a comment

Having a Successful Credit Policy

Now that you have a credit policy, it is up to you how tightly you wish to enforce your policy.  You can have a very strict credit policy at the risk of alienating some customers, or a very loose policy … Continue reading

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Maintain Cash Flow in any Economy

If you don’t have a credit policy for your business, everyone will want to buy from you. This can result in unpaid and past due invoices on your books.  Your credit policy must meet these objectives to be effective: •           … Continue reading

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What the Heck is Credit Management?

If you are a business owner you know that you sometimes have customers that owe you money and you may struggle with trying to collect that money.  It is very frustrating not getting paid after you complete a job.  Perhaps … Continue reading

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Small business credit card outstanding debt dispute – Ask Michelle

In 2004, I created a small, home-based business with an associate.  We opened a business account and a business credit card together.  Although, I don’t remember the specifics, I am told I was a co-guarantor.  In 2005, I resigned from … Continue reading

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Posted in Ask Michelle, Business Credit, FAQ's | Tagged , , | 3 Comments

Collection of Past Due Account

Question: My husband is a small home-based business owner working in turf equipment repair.  He operates this business as “side-work” in addition to his full-time employment with another company. Currently, he has a customer who refuses to pay a $350.00 … Continue reading

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Posted in Ask Michelle, Collections for Creditors, Excuses, FAQ's | Tagged , , | 1 Comment