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Accept Credit Card In Your Business
Should you accept credit card in your business transactions?
Many small companies or home-based businesses avoid doing so
because of their concern over fees and expenses that may drain
away potential profits. Yet the actual cost of...
Barter Credit Repair
Restoring Credit is Essential for surviving in today's time. Today barter is moving back to the system as many people including business owners find it to be a solution for getting out debt or expanding their company.
This might sound...
Credit Reports and Credit Reporting Agencies
We all know that our financial transactions are reported to credit agencies that track how well and how quickly we pay our debts and that when we apply for a loan for one reason or another, those agencies report our credit history to prospective...
Home Owners Avoiding Complications in Credit Repair
Avoiding complications in credit repair is almost important as
getting out of debt. When we have bills that were neglected
simply because we didn't have the money to pay the bills, or
else we purchased items instead of paying the bills, we are...
Stop Think and Listen when Repairing Credit
One of the best tools for repairing credit is to stop, think,
and listen. If you are in debt, you need to stop and think about
your situation and stay alert to the activities on your credit
report. In this article, we are going to examine...
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How to Write a Credit Policy for your Business
A new book says it’s different for every business. According to a new book by Michelle Dunn, writing a credit policy is a daunting task but if you don’t have one, it can cost you sales.
The book, “Become the Squeaky Wheel,” by New Hampshire author Michelle Dunn, says the different ways people use and extend credit makes or breaks your credit policy and bottom line, which could result in less or more sales and money for your business.
“Business owners all have different types of businesses but can all extend credit,” explains Michelle Dunn. “So it should only make sense that no two credit polices can be the same.”
Dunn explains that one major difference is if you have a service or retail business. Your credit policy should use multiple facets to cater to prospective customers but also protect the business owner.
“You are limited in what you can and can’t ask a prospective customer in order to
extend them credit,” says Dunn. “Business owners need to be aware of what these questions are and what the laws are before they create their credit policy.” Your credit policy helps to filter customers so you don’t have to spend your time chasing your money. Your best policy will be short, easy and to the point, it will avoid long-winded statements and a lot of legal or big words. Always create your forms with the reader in mind, the easier and clearer the better.
About the Author
Michelle Dunn has over 17 years experience in credit and debt collection. She is the founder of Never Dunn Publishing, LLC, is a writer, consultant and the Editorial Advisor for Eli Financial. Michelle started M.A.D. Collection Agency and ran is successfully for 7 years. She also owns and runs Credit & Collections.com an online community for credit and business professionals. She has written 5 books in her Collecting Money Series.
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