Credit and Collections Policy
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Commercial Collection
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- Credentials and Certifications
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- Summary of Collection Laws
- Business Debt Collections
- Collecting Past Due Accounts
- Hiring a Collection Agency
- Bankruptcies Cause Tighter Credit Terms
- When To Hire A Commercial Collection Agency
- The Foundation Of A Sound Credit Policy
- A Good Collection Agency: More than Just Collections
- Effective Practices for Commercial Collections
- Proven Strategies for Improving Collectibility
- Collecting on Overdue Accounts
- Commercial Collections - Our success is your success
- Does Your Credit Application Protect You?
- Using a Collection Agency
Establish a Sounds Credit Policy
The Foundation Of A Sound Credit Policy
Credit Application and a Personal Guarantee can be the difference!
Without a good credit manager, most businesses are unaware of how to profitably manage receivables. Rather than work in a reactive mode, building a sound credit policy is the first step toward a proactive approach to credit management. A well-constructed policy lays the foundation for the credit manager to realize the benefits of sound portfolio management.
To realize all the benefits of a formalized credit policy, nine areas should be initially addressed. The primary sections to include in a sound credit policy should be:
- Mission Statement
- Goals
- Define Credit Limit Authority
- Credit Evaluation
- Credit Limits
- Terms
- Account Monitoring
- Credit Hold
- Collections
Burt & Associates can help you establish a sound credit policy and be there to manage your collections process. The best collection process is one which is proactive and consistent. To learn about Credit Policy regarding on How to Collect your Money