Tag Archives: credit policy

Enforcing your Credit Policy

So you finally have a credit policy written and ready to go! How can you get everyone at your company to follow the policy? This can be harder than writing the policy!  First of all, have a metting and give … Continue reading

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Posted in Business Credit, Checking credit, Credit Policy Questions, Education, FAQ's, Helping Debtors, Know your Debtors, Laws, linkedin | Tagged , , , | Leave a comment

What to do when your Customer’s Don’t Pay

“Persistence is key,” said Michelle Dunn, an expert on collections and the author of the Ultimate Credit and Collections Handbook. “I would put a deadline on when you want to get paid.” Learn more about the best practices and increase … Continue reading

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Posted in Being a Great Collector, Collection Tools, Collections for Creditors, Credit Crisis, Credit Policy Questions, Economic Crisis, FAQ's, Recession | 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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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

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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How to write your Credit Policies

Now that you know why you need a credit policy you need to come up with one that will work for you and your business.  Some things to think about when sitting down to write out your credit policy steps … Continue reading

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Top 3 things your Clients can do to Help their Credit

If you try to help your clients to have better credit polcies, you may want to share this blog post with them. Many of your clients and the debtors you are calling may be having credit problems because of the … Continue reading

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Posted in Business Credit, Collections for Creditors, Credit Crisis, Credit Crunch, Education, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Improve Your Credit, Uncategorized | Tagged , , , , , , , | Leave a comment

Why does your Business need a Credit Policy?

As a credit manager, A/R clerk, and the owner of a third party collection agency, I have seen how many business owners do not have a credit policy or do anything at all to limit their credit risk with their … Continue reading

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Posted in About Michelle Dunn, Ask Michelle, Being a Great Collector, Business Credit, Checking credit, Collections for Creditors, Collections for Landlords, Credit Policy Questions, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Medical Collections, Training | Tagged , , , , , | Leave a comment

23 ways to get your Customers to pay you First

Try to correct or resolve any discrepancies before the invoice is due.  This could include any shortages or pricing errors, but whatever the problem is, identify it before the due date so you can still get paid on time.  Some … Continue reading

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Posted in Ask Michelle, Being a Great Collector, Books, Business Credit, Collection Calls, Collection Letters, Collection Tools, Collections for Creditors, Collections for Landlords, Credit Policy Questions, Customer Service, Economic Crisis, Education, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, The Life of a Bill Collector, Training | 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