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Credit & Collections


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digs


As a credit grantor, you should be aware of some basic principals
Submitted 1373 days ago
Granting credit carries an unavoidable element of risk. You will have some losses regardless of how closely you screen applicants. There are some fundamental procedures that can help in your collection efforts. While no collection procedures will completely cover all [...]
 
Topic: Credit & Collections
1
digs


Extending Credit during a Recession
Submitted 1372 days ago
As a credit granter, your business is one of many that allows consumers to use goods and services immediately and pay for them later. While extending credit increases your gross sales, it also puts you at risk of some losses due to nonpayment. Most businesses that “write-off” a percentage of sales to bad debts have [...]
 
Topic: Credit & Collections
1
digs


Submitted 1332 days ago
I have been using Renton’s collection stickers for about 12 years now. I am happy to help spread the word about their products because I think they really work. Check out this story to see how Joe Eidt spent $244.60 for stickers from Renton’s and ended the year with his lowest outstanding invoices in [...]
 
Topic: Credit & Collections
1
digs


My job as a Bill Collector
Submitted 1332 days ago
All hours of the day, seven days a week, during dinner time, even on Sunday. I leave the same message on your voice mail every time I call. I call you at work, on your cell phone … I might even call your parents or neighbors to try to get a hold of you. Yep. [...]
 
Topic: Credit & Collections
1
digs


Getting results using Scripts
Submitted 1332 days ago
One of the questions I am asked the most after how do I start my own collection agency is where can I get scripts and letters for my agency. For new collectors scripts can be very helpful, for seasoned collectors your scripts are in your head. Whether you have scripts or not there are some [...]
 
Topic: Credit & Collections
1
digs


Scripts and how debtors use them against you
Submitted 1332 days ago
I found a website that is for consumers and lists some debt collector scripts and different responses that debtors can give to collectors who use those scripts. I get alot of questions from collectors about scripts and thought this might be of interest.After reading this, you can see where some of the information debtors are [...]
 
Topic: Credit & Collections
1
digs


Collection Agencies: what are they and how do they work
Submitted 1332 days ago
I found an interesting article this morning about debt collection agencies by Chane Steiner of AAA Credit Guide. This article is aimed towards consumers and I think business owners can also gain some information from this as well. If you are a business owner, make sure the collection agency you choose to collect for [...]
 
Topic: Credit & Collections
1
digs


How Collection & Thank You stickers saved this Business Money
Submitted 1332 days ago
Dear Michelle,I first want to thank you for all your wonderful articles that you allow me to use in my quarterly newsletter to our customers. I receive numerous comments on how interesting your articles are. I also wanted to share with you a story about a new customer of ours. His name is Joe Eidt [...]
 
Topic: Credit & Collections
1
digs


Is it time to Re-Vamp your Credit Policy?
Submitted 986 days ago
Do you HAVE a credit policy?  When was it written?  I have worked at companies that are using a credit policy from over 15 years ago. With the changing economy it is imperative to your business that you update your policies and make sure they are being followed. Credit managers everywhere struggle with how to update [...]
 
Topic: Credit & Collections
1
digs


Corporate vs. Personal Debt
Submitted 920 days ago
Michelle, My husband and I each own 50% of the shares in a medical corporation.  He is no longer working, yet he continues to own 50% of the shares.  He has incurred debt that he signed for personally and also took out credit lines during the course of doing business for this company.  I am concerned [...]
 
Topic: Credit & Collections