Monthly Archives: December 2014

Steps to manage business credit successfully

In my experience many businesses do not have credit management plans or any credit policies in place.  Managing your business cash flow can be the single most important thing that can make or break your company, no matter if you … Continue reading

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A Credit Policy Checklist

Who will be your credit manager, collector or in charge of the credit department?    Pick one person to be in charge of all credit applications and reports. Write that name down so you can talk to that person about this … Continue reading

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Posted in Ask Michelle, Being a Great Collector, Books, Business Credit, Checking credit, Choosing a Collection Agency, collection agencies, Collection Letters, Collection Tools, Collections for Creditors, Collections for Landlords, Credit Policy Questions, Education, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Training | Tagged , , , , , , , | Leave a comment

What is your credit risk?

As you write your policies you need to understand your credit risk.  Credit risk is the risk of loss due to a default on a contract, or the risk of loss due to someone not paying you as agreed.  If … Continue reading

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Posted in Ask Michelle, Being a Great Collector, Business Credit, Checking credit, Collection Tools, Collections for Creditors, Collections for Landlords, Credit Policy Questions, Education, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Heard on the Street..., Know your Debtors, Training | Tagged , , , , , , | Leave a comment

The Credit Policy Mission Statement

Now that you have a clear picture of what you want this credit policy to do for you, take a look at your business mission statement.  You want to write a short concise mission statement for your credit procedures.  Every … Continue reading

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