« What is DSO or Days Sales Outstanding? | Main | Forbes.com article is LIVE - Dealing with Deadbeat Customers »

Jul15
Questions to ask when Extending Credit
Michelle Dunn July 15, 2006
Know More: Creating a Credit Policy, Credit Applications, Fair Debt Collection Practices Act, I have past due customers, what do I do?, What makes a Good Collector?
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
  • Address, length of time at that address
  • Former address
  • Balance sheets, or IRS tax returns
  • Phone numbers of business and principals
  • Cell phone numbers, email address
  • Bank name, address & phone number
  • Personal and Business credit references
  • Employer name, address & phone numbers
  • Length of time at current employment
  • Marital status, name and employment information for spouse
  • Total monthly household income
  • Social security number and/or Federal ID #
You don't have to ask all of these questions, but as many as you can is your best bet. You need to protect yourself and business from bad debt.

related entries


0 Comments/Trackbacks




submit a trackback

TrackBack URL for this entry:

post a comment

Name, Email Address, and URL are not required fields.





Comment Preview

« What is DSO or Days Sales Outstanding? | Main | Forbes.com article is LIVE - Dealing with Deadbeat Customers »

Advertise

Related Resources

Advertise Here

recent comments

sponsored ads



topics

Incredible Hall of Acclaim.

subscribe


Prefer Email?
Subscribe below-

Enter your Email:


Powered by FeedBlitz What's this?

Current News

Press Releases

resources

Bookmark this Page
Write for us
About us
Team
Contact
Subscribe
Advertise
Network Map
Privacy
Disclaimer

Support This Blog

archives

blogroll


Powered by MT Blogroll
My site was nominated for Best Education Blog!

business social media

Use these fast growing business social media sites to promote your business, feature your products, spotlight your business leaders, create links, and drive traffic back to your company site, all for free!

BIZZlogos - Add your logo - free link to your site
BIZZphotos - Add photos of your products and people
BIZZprofiles - Submit your profile and build your online visibility
BIZZspotlight - Spotlight your business with free links
BIZZvideos - Videos about businesses, products and business people.
BIZZbites - "Digg" for Business - Submit your articles and posts

Know More Media - Finance / Banking / Insurance

know more media network

View Network Map

Network Feed List (OPML)

Know More Media Network
Feed

we support unitus

Unitus - Global Microfinance Accelerator

PRWeb

Influencer

Influencer: The Power to Change Anything


BizCreditPolicy is a member of the Know More Media network of business related blogs.

Here are some current headlines from some of our business publications:

ProductivityGoal

CallCenterScript

AdHurl

TheBizofKnowledge

LandingTheDeal

CustomersAreAlways

HealthCareVox

WebMetricsGuru

TheInsurancePolicy

MarketingBlurb