During a tough economy it is harder and harder to have customers who buy on credit. Getting credit is harder than ever for consumers everywhere as we trudge through the credit crisis.
When you have a potential new customer, you need to be very sure they are credit worthy BEFORE extending any credit. You want to be sure that you will be paid.
To determine who is credit worthy you need to gather information from your potential customers before any sales are made. You can do this very easily and cheaply using credit applications.
Credit applications will give you the following information on a consumer:
- References (trade and/or personal)
- Bank references
- Employment information
- Financial information
- Permission to check the above references and/or pull a credit report
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