Tag Archives: credit

Biggest Credit and Collection Mistakes

The biggest mistake business owners make when extending credit is not checking credit or extending credit blindly to anyone who walks in the door. Another big mistake business owners make with credit & collections is not staying up to date … Continue reading

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Posted in Ask Michelle, Being a Great Collector, Business Credit, Collections for Creditors, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Networking | Tagged , , , | Leave a comment

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

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

Strategies for Building Business Credit

When you first start a business your personal credit is what is used to determine the types of credit or if any credit will be extended to you or your business. Most Entrepreneurs or new small business owners don’t realize … Continue reading

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Collecting Debts can save your business U.S. News & World Report

On page 113 of the issue on stands now of U.S. News & World Report is an article called “Collecting Debts can Save Your Business”, a follow up article to a couple of weeks ago.  If anyone gets this magazine, … Continue reading

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Posted in About Michelle Dunn, Accounts Receivable Outsourcing, Being a Great Collector, Books, Business Credit, Checking credit, Collection Calls, Collection Letters, Collection Tools, Collections for Creditors, Credit Crisis, Credit Policy Questions, Customer Service, Debt Collection in the News, Recession | Tagged , , , , , | Leave a comment

What is a Credit Department?

Michelle, Hi! I’d like to ask a few questions. 1. What are the responsibilities of the credit and collection department? 2. What roles do the line and staff people play? Joshua Hi Joshua, Credit managers are in high demand right … Continue reading

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Establishing Credit for your Business

Dear Michelle, What is the most expeditious way to establish business credit without the need for a personal guarantee? Thank you! Eric Dear Eric, You should apply for credit under your business name with vendors you are currently working with … Continue reading

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Posted in Ask Michelle, Business Credit, Collections for Creditors, Credit Crisis, Credit Crunch, Customer Service, Dealing with debt collectors, Economic Crisis, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Identity Theft, Improve Your Credit, Know your Debtors | Tagged , , , , | Leave a comment

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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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