Credit Policy for businesses and how to extend credit and manage credit risk

Just like mechanics, Credit Managers have a tool box of things they need to effectively do their job.  Some essential tools a credit manager needs are:

A signed credit application.

Knowledge of the FDCPA, FCRA and any state laws in the state you are in and the states you are collecting in.

Communications skills.

Negotiation and mediation skills.

Organizational skills.

Superior follow up skills.

Skip tracing resources.

Without these tools you or your credit manager will have a hard time enforcing payment terms and credit limits.