Credit Policy for businesses and how to extend credit and manage credit risk |
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Aug 1
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 If there is a balance due on the terminated account, you must attempt to collect from the owner. Make sure the new owner did not purchase the accounts receivable balances at the time of sale, this will help you determine who is responsible for any balance due. The new owner cannot use the same account as the previous owner, since all transactions are a credit history for another individual. |
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« Online Resources for Credit Professionals | Main | Do you want to be your own boss and make more money? »
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