I just read a very good post on Joel LeBlanc’s blog Credit Collections & Finance about credit control policies, and how 2010 will be a tough year on the credit front for many businesses.
There has been a sharp decline in the demand for credit and an increase in defaults across the board. The most worrying part is the defaults – up 38 percent year on year. We would expect to see more business failures this year. We’re aware that commentators see the worst time for businesses coming in March and are predicting improvements in outlook from then.
Tags: credit and collections, credit policies, Credit Reporting