Tag Archives: credit application

Most people think checking credit alienates customers, but the real truth is you will make more money.

Most people I talk with think that if they ask new or potential customers to fill out a credit application or sign a contract that they will lose the sale. This could nto be further from the truth. If a … Continue reading

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Posted in Being a Great Collector, Business Credit, Checking credit, Collection Tools, Collections for Creditors, Collections for Landlords, Economic Crisis, Education, Recession | Tagged , , , , | Leave a comment

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 you don’t know about your customers can bankrupt you

How well do you know your customers? I bet you think you know them pretty well.  If you don’t know enough about them you can end up with a pile of unpaid invoices and no idea how to recover the money they owe … Continue reading

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Posted in Ask Michelle, Being a Great Collector, Business Credit, Checking credit, Collection Tools, Credit Policy Questions, Customer Service, Getting Paid - Michelle Dunn - Business Finance Columni | Tagged , , , , , , , , , , | Leave a comment

3 things your sales people should be doing that will help you get paid

Anyone who has worked in credit and debt collections for any time knows about the troubled relationship between sales and the credit department.  When sales people get paid a commission, they want to make the biggest sale, when they get … Continue reading

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Posted in Ask Michelle, Business Credit, Checking credit, Collections for Creditors, Customer Service, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Helping Debtors, Know your Debtors | Tagged , , , , , , , , | Leave a comment

The New Payment Rules (The 1 page Credit Policy)

1.  No sales will be made on credit without a signed filled out credit application being processed. 2.  You must pay your bill within 28 days from the date on the bill. 3.  If you become past due we will … Continue reading

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

6 steps to your Credit Policy

Your credit policy is your “getting paid” policy.  If you want to get paid, you need to have a credit policy.  The six main elements of your credit policy are steps you will take with every new customer or order … Continue reading

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Posted in Ask Michelle, Books, Business Credit, Checking credit, Credit Policy Questions, Customer Service, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Know your Debtors, The Life of a Bill Collector | Tagged , , , | Leave a comment

How important are Credit Applications?

Do you have your customers fill out and sign credit applications? If you don’t how do you obtain your customers financial and personal information in order to make a decision about extending them credit? Some business owners do this through … Continue reading

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Posted in Ask Michelle, Business Credit, Checking credit, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni | Tagged , , | Leave a comment

It’s time for Change

Sometimes the most difficult part about change is getting started.  You realize you need to make a change but it seems overwhelming or impossible. One way to get over this is to break down what you need to do into … Continue reading

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Posted in Business Credit, Checking credit, Credit Policy Questions, FAQ's | Tagged , , , , | Leave a comment

Top mistakes business owners make when trying to get paid

1. Not having customers fill out and sign a credit application at the time of  the  sale. 2. Getting incomplete information at the time of the sale. 3. Ignoring accounts as they become more and more delinquent – hoping the person will … Continue reading

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Posted in Business Credit, Checking credit, collection agencies, Economic Crisis, Education, Getting Paid - Michelle Dunn - Business Finance Columni, Training | Tagged , , , , | 2 Comments