Tag Archives: credit risk

Tips for when accounts get Past Due

Jeff DiMatteo from the Worcester Business Journal shares some very helpful tips for anyone struggling to get paid from customers during this economic crisis.  He gives 4 tips that business owners can use to get their money from customers that … Continue reading

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

Managing Cash Flow

I recently recorded a webinar for BusinessWeek called Managing Cash Flow that is about handling cash flow with two other people, Tom Taulli and Tim Berry, both very knowledgeable on this topic. I am quite excited and think it is … Continue reading

Share
Posted in Ask Michelle, Being a Great Collector, Checking credit, Collections for Creditors, Credit Crisis, Credit Policy Questions, Economic Crisis, FAQ's, Recession | Tagged , , , | Leave a comment

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

Share
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

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

Share
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

Do you have a credit management plan?

As a credit manager or the owner of a business you should be able to answer the following questions or at least know how to find these answers if you want an effective credit management plan. 1.  How do debt … Continue reading

Share
Posted in Being a Great Collector, Books, Business Credit, Choosing a Collection Agency, Collections for Creditors, Credit Policy Questions, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Know your Debtors, 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

Share
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

Check every customers Credit

I know you all check a new customers credit when they place an order, but it is very important that you remember to re-check your customers credit.  Everyone’s credit changes all the time, so to protect your business be sure … Continue reading

Share
Posted in Ask Michelle, Being a Great Collector, Business Credit, Checking credit, Collection Tools, Collections for Creditors, Collections for Landlords, Credit Crisis, Credit Policy Questions, Credit reports, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Know your Debtors | Tagged , , , , | Leave a comment

Stop shipping orders to customers that owe you money

In my experience as a third party collector, so many of my clients would place accounts with my agency for collection and as I worked the accounts I would find out this client was still shipping product to these customers! … Continue reading

Share
Posted in Ask Michelle, Being a Great Collector, Business Credit, Collection Calls, Collection Letters, Collections for Creditors, Credit Policy Questions, Customer Service, Economic Crisis, Education, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni, Know your Debtors, Payment Plans, Recession, Telephone Collection Tactics, Training | 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

Share
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

Be careful choosing a Collection Agency in 2013

Businesses everywhere are still worried about their business cash flow, their customers and getting paid as the economy continues to suffer. Many need some guidance on how to deal with credit terms, credit risk and basic collection skills.   Award winning … Continue reading

Share
Posted in Ask Michelle, Books, Business Credit, Choosing a Collection Agency, collection agencies, Collections for Creditors, Collections for Landlords, Dealing with debt collectors, Education, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni | Tagged , , , , , , , , | Leave a comment