BizCreditPolicy: July 2006 Archives

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Jul31	What makes up a Credit Score? Michelle Dunn July 31, 2006 Know More: Creating a Credit Policy, Credit Applications, Credit Reporting, Understanding Credit Reports, What makes a Good Collector? A credit score is a number, but what does that number mean? Where does it come from? What am I supposed to get from that number? You run a credit report on a new potential customer. "Ah! This guy is a 600!!" Is that good? Bad? What does it mean? The only things in a credit report that affect a credit score are: Number of late payments Type, number and age of accounts Total debt Recent inquiries How late payment are or were at any time Check out if a 600 is a good score! Posted at 4:04 PM \| Permalink \| Comments
Jul31	Communications with a Debtor/Customer Michelle Dunn July 31, 2006 I say in my title, Debtor/Customer. This is because a past due customer is what business owners normally call a debtor. A debtor is a person who owes you money. People do not like to be called debtors, even if... Continue Reading Posted at 2:53 PM \| Permalink \| Comments
Jul30	Lifestyles for the Millennium - Costco & the Economy Michelle Dunn July 30, 2006 Do you visit Costco? Are you a member? If you are a business member, you probably receive "The Costco Connection" magazine.Paul & Sarah Edwards are regular contributors to The Costco Connection, and wrote an article for the August issue titles,... Continue Reading Posted at 5:56 AM \| Permalink \| Comments
Jul27	Skip Tracing Resources Michelle Dunn July 27, 2006 If you have a debtor that's mail is being returned or the phone is disconnected, you need to find them in order to collect your money. There are so many places on line you can do searches, some are free... Continue Reading Posted at 8:11 AM \| Permalink \| Comments
	How do I "Skip Trace"? Michelle Dunn July 27, 2006 People who start a business and create a credit policy, are normally not familiar with the term "Skip Trace". Skip tracing is the act of locating someone who has ditched you, so that you can try to collect the money... Continue Reading Posted at 7:05 AM \| Permalink \| Comments
	What is a goodCredit Score? Michelle Dunn July 27, 2006 When you decide to pull credit reports to check your potential customers credit, you can ask a representative from the credit bureau to explain and go over everything with you to help you understand their "jargon". There are good and... Continue Reading Posted at 5:53 AM \| Permalink \| Comments
Jul26	365 Foolish Mistakes SMART Managers Make Every Day - how and why to avoid them Michelle Dunn July 26, 2006 I was asked to contribute to a project a few months ago for a book being published by the Atlantic Publishing Group Inc. The book was authored by my friend and colleague Shri L. Henkel with a foreword by Gerald... Continue Reading Posted at 9:36 AM \| Permalink \| Comments
	What's New with Money Michelle Dunn July 26, 2006 Have you seen any of the "New Money"? It clean, crisp and colorful. How can you protect yourself against fraud when you don't know what to look for on your bills?The United States Government has introduced these new bills to... Continue Reading Posted at 6:38 AM \| Permalink \| Comments
Jul25	Scoring Collectors Michelle Dunn July 25, 2006 In the July issue of Cards & Payments - Credit, Debit and Beyond there is a story about "Scoring Debt Collectors" written by Caitlin Devitt. This can be perfect for a business owner who wants to hire a collector to... Continue Reading Posted at 6:11 AM \| Permalink \| Comments
Jul24	BookExpo of America Michelle Dunn July 24, 2006 Being an expert in debt collection and credit policies, I find myself writing more and more books on this topic. This year is the second year I attended the Book Expo of America in order to learn more about the... Continue Reading Posted at 5:28 AM \| Permalink \| Comments
Jul19	Being Productive & Organized Michelle Dunn July 19, 2006 I was recently asked to contribute to a blog about how I do all that I do.Claire Tompkins, a fellow KMM author interviewed me for her blog, with her one question interview. Check out her blog for the full story.Gina... Continue Reading Posted at 4:35 AM \| Permalink \| Comments
Jul18	What is Skip Tracing? Michelle Dunn July 18, 2006 Skip tracing is the process of tracking down someone who owes you money. Sometimes in order to collect on a past due account or a bad check you have to locate your debtor first. Some debtors may relocate or their... Continue Reading Posted at 7:49 AM \| Permalink \| Comments
	What should you know about the FDCPA? Michelle Dunn July 18, 2006 The Fair Debt Collection Practices Act covers the collection practices of third-party debt collectors and attorneys who regularly collect debts for others. You as a business owner and credit grantor should be familiar with this law because: Credit grantor's collection... Continue Reading Posted at 6:31 AM \| Permalink \| Comments
Jul17	Tricks of the Trade Michelle Dunn July 17, 2006 There are some tricks of the trade you can use when running your business to help you if you ever become a victim of bad debt or a slow or non-paying customer. Put your credit terms or payment terms in... Continue Reading Posted at 6:09 AM \| Permalink \| Comments
	Forbes.com article is LIVE - Dealing with Deadbeat Customers Michelle Dunn July 17, 2006 Forbes.com has posted the article they interviewed me for, if you want to check it out. It is called "Dealing with Deadbeat Customers"So exciting! :)Michelle Dunnwww.michelledunn.comwww.credit-and-collections.comwww.BizCreditPolicy.com... Continue Reading Posted at 4:50 AM \| Permalink \| Comments
Jul15	Questions to ask when Extending Credit Michelle Dunn July 15, 2006 If you decide to extend credit to customers how do you know what to ask them to give you the information you need to make good credit decisions? Business and owners name length of time they have been in business... Continue Reading Posted at 7:58 AM \| Permalink \| Comments
	What is DSO or Days Sales Outstanding? Michelle Dunn July 15, 2006 You should research how you are handling your accounts receivables and if your control over them is effective. This will help you update or make sure your credit policy is working effectively for your business. You can do this by... Continue Reading Posted at 6:46 AM \| Permalink \| Comments
Jul11	Should I Extend Credit? Michelle Dunn July 11, 2006 Extending credit works in your favor in many ways. it can increase customer loyalty. Taking a financial risk for your customers demonstrates that you trust them and are willing to accommodate them. A credit policy also indicated that your business... Continue Reading Posted at 6:08 PM \| Permalink \| Comments
	Collecting Judgements Michelle Dunn July 11, 2006 Earlier I wrote about a great blog I had found with some credit resources and articles hosted by Carl Starrett called Legal Tips & Commentary. Carl has graciously offered me a great article he wrote about collecting on judgements after... Continue Reading Posted at 4:31 PM \| Permalink \| Comments
	Legal Tips & Resource! Michelle Dunn July 11, 2006 Today I ran across a great blog that I would like to share with you. It is a blog that is maintained by Carl Starrett and is called Legal Tips & Commentary. This blog is used to post legal tips... Continue Reading Posted at 3:12 PM \| Permalink \| Comments
Jul10	Interview with Forbes.com How to Collect more Money Michelle Dunn July 10, 2006 I had the opportunity of doing an interview last night with Tom Taulli who writes a weekly column for Forbes.com. He is doing a column is on how to deal with customers that do not pay and found my website... Continue Reading Posted at 5:15 AM \| Permalink \| Comments
Jul 6	Collections Resources Michelle Dunn July 6, 2006 I had the opportunity to speak to David who owns National One Satellite Branch and found his site to have quite a bit of useful information in relations to debt collection.This site offers infromation on Starting a Collection Agency as... Continue Reading Posted at 7:54 AM \| Permalink \| Comments
Jul 4	If you want to be your own boss, make your own future, and start your own agency, this is the book for you. Michelle Dunn July 4, 2006 I am happy to announce that my new book the "Second Edition of Starting a Collection Agency, How to make money collecting money" is available!! They arrived yesterday and I think they are just great, they look great, they have... Continue Reading Posted at 7:47 AM \| Permalink \| Comments

« June 2006 | Main | August 2006 »

Jul31	What makes up a Credit Score? Michelle Dunn July 31, 2006 Know More: Creating a Credit Policy, Credit Applications, Credit Reporting, Understanding Credit Reports, What makes a Good Collector? A credit score is a number, but what does that number mean? Where does it come from? What am I supposed to get from that number? You run a credit report on a new potential customer. "Ah! This guy is a 600!!" Is that good? Bad? What does it mean? The only things in a credit report that affect a credit score are: Number of late payments Type, number and age of accounts Total debt Recent inquiries How late payment are or were at any time Check out if a 600 is a good score! Posted at 4:04 PM \| Permalink \| Comments
Jul31	Communications with a Debtor/Customer Michelle Dunn July 31, 2006 I say in my title, Debtor/Customer. This is because a past due customer is what business owners normally call a debtor. A debtor is a person who owes you money. People do not like to be called debtors, even if... Continue Reading Posted at 2:53 PM \| Permalink \| Comments
Jul30	Lifestyles for the Millennium - Costco & the Economy Michelle Dunn July 30, 2006 Do you visit Costco? Are you a member? If you are a business member, you probably receive "The Costco Connection" magazine.Paul & Sarah Edwards are regular contributors to The Costco Connection, and wrote an article for the August issue titles,... Continue Reading Posted at 5:56 AM \| Permalink \| Comments
Jul27	Skip Tracing Resources Michelle Dunn July 27, 2006 If you have a debtor that's mail is being returned or the phone is disconnected, you need to find them in order to collect your money. There are so many places on line you can do searches, some are free... Continue Reading Posted at 8:11 AM \| Permalink \| Comments
	How do I "Skip Trace"? Michelle Dunn July 27, 2006 People who start a business and create a credit policy, are normally not familiar with the term "Skip Trace". Skip tracing is the act of locating someone who has ditched you, so that you can try to collect the money... Continue Reading Posted at 7:05 AM \| Permalink \| Comments
	What is a goodCredit Score? Michelle Dunn July 27, 2006 When you decide to pull credit reports to check your potential customers credit, you can ask a representative from the credit bureau to explain and go over everything with you to help you understand their "jargon". There are good and... Continue Reading Posted at 5:53 AM \| Permalink \| Comments
Jul26	365 Foolish Mistakes SMART Managers Make Every Day - how and why to avoid them Michelle Dunn July 26, 2006 I was asked to contribute to a project a few months ago for a book being published by the Atlantic Publishing Group Inc. The book was authored by my friend and colleague Shri L. Henkel with a foreword by Gerald... Continue Reading Posted at 9:36 AM \| Permalink \| Comments
	What's New with Money Michelle Dunn July 26, 2006 Have you seen any of the "New Money"? It clean, crisp and colorful. How can you protect yourself against fraud when you don't know what to look for on your bills?The United States Government has introduced these new bills to... Continue Reading Posted at 6:38 AM \| Permalink \| Comments
Jul25	Scoring Collectors Michelle Dunn July 25, 2006 In the July issue of Cards & Payments - Credit, Debit and Beyond there is a story about "Scoring Debt Collectors" written by Caitlin Devitt. This can be perfect for a business owner who wants to hire a collector to... Continue Reading Posted at 6:11 AM \| Permalink \| Comments
Jul24	BookExpo of America Michelle Dunn July 24, 2006 Being an expert in debt collection and credit policies, I find myself writing more and more books on this topic. This year is the second year I attended the Book Expo of America in order to learn more about the... Continue Reading Posted at 5:28 AM \| Permalink \| Comments
Jul19	Being Productive & Organized Michelle Dunn July 19, 2006 I was recently asked to contribute to a blog about how I do all that I do.Claire Tompkins, a fellow KMM author interviewed me for her blog, with her one question interview. Check out her blog for the full story.Gina... Continue Reading Posted at 4:35 AM \| Permalink \| Comments
Jul18	What is Skip Tracing? Michelle Dunn July 18, 2006 Skip tracing is the process of tracking down someone who owes you money. Sometimes in order to collect on a past due account or a bad check you have to locate your debtor first. Some debtors may relocate or their... Continue Reading Posted at 7:49 AM \| Permalink \| Comments
	What should you know about the FDCPA? Michelle Dunn July 18, 2006 The Fair Debt Collection Practices Act covers the collection practices of third-party debt collectors and attorneys who regularly collect debts for others. You as a business owner and credit grantor should be familiar with this law because: Credit grantor's collection... Continue Reading Posted at 6:31 AM \| Permalink \| Comments
Jul17	Tricks of the Trade Michelle Dunn July 17, 2006 There are some tricks of the trade you can use when running your business to help you if you ever become a victim of bad debt or a slow or non-paying customer. Put your credit terms or payment terms in... Continue Reading Posted at 6:09 AM \| Permalink \| Comments
	Forbes.com article is LIVE - Dealing with Deadbeat Customers Michelle Dunn July 17, 2006 Forbes.com has posted the article they interviewed me for, if you want to check it out. It is called "Dealing with Deadbeat Customers"So exciting! :)Michelle Dunnwww.michelledunn.comwww.credit-and-collections.comwww.BizCreditPolicy.com... Continue Reading Posted at 4:50 AM \| Permalink \| Comments
Jul15	Questions to ask when Extending Credit Michelle Dunn July 15, 2006 If you decide to extend credit to customers how do you know what to ask them to give you the information you need to make good credit decisions? Business and owners name length of time they have been in business... Continue Reading Posted at 7:58 AM \| Permalink \| Comments
	What is DSO or Days Sales Outstanding? Michelle Dunn July 15, 2006 You should research how you are handling your accounts receivables and if your control over them is effective. This will help you update or make sure your credit policy is working effectively for your business. You can do this by... Continue Reading Posted at 6:46 AM \| Permalink \| Comments
Jul11	Should I Extend Credit? Michelle Dunn July 11, 2006 Extending credit works in your favor in many ways. it can increase customer loyalty. Taking a financial risk for your customers demonstrates that you trust them and are willing to accommodate them. A credit policy also indicated that your business... Continue Reading Posted at 6:08 PM \| Permalink \| Comments
	Collecting Judgements Michelle Dunn July 11, 2006 Earlier I wrote about a great blog I had found with some credit resources and articles hosted by Carl Starrett called Legal Tips & Commentary. Carl has graciously offered me a great article he wrote about collecting on judgements after... Continue Reading Posted at 4:31 PM \| Permalink \| Comments
	Legal Tips & Resource! Michelle Dunn July 11, 2006 Today I ran across a great blog that I would like to share with you. It is a blog that is maintained by Carl Starrett and is called Legal Tips & Commentary. This blog is used to post legal tips... Continue Reading Posted at 3:12 PM \| Permalink \| Comments
Jul10	Interview with Forbes.com How to Collect more Money Michelle Dunn July 10, 2006 I had the opportunity of doing an interview last night with Tom Taulli who writes a weekly column for Forbes.com. He is doing a column is on how to deal with customers that do not pay and found my website... Continue Reading Posted at 5:15 AM \| Permalink \| Comments
Jul 6	Collections Resources Michelle Dunn July 6, 2006 I had the opportunity to speak to David who owns National One Satellite Branch and found his site to have quite a bit of useful information in relations to debt collection.This site offers infromation on Starting a Collection Agency as... Continue Reading Posted at 7:54 AM \| Permalink \| Comments
Jul 4	If you want to be your own boss, make your own future, and start your own agency, this is the book for you. Michelle Dunn July 4, 2006 I am happy to announce that my new book the "Second Edition of Starting a Collection Agency, How to make money collecting money" is available!! They arrived yesterday and I think they are just great, they look great, they have... Continue Reading Posted at 7:47 AM \| Permalink \| Comments

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