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

As the economy slows down., Americans are having a harder time paying off debt. 1.26% is the portion of mortgage payments in the United States that were 90 days past due at the end of the third quarter of 2007, according to the Mortgage Bankers Association.  That is a 43% increase over 2006.

$174 trillion is the total value of delinquent credit card payments in the United States at the end of 2007, according to the Federal Reserve Board, or 4.25% of outstanding loans.  At the end of 2006, 4.01% of credit card debt and loans were delinquent.

How is your buisness dealing with the recession and credit crisis as it gets worse?  Bear Sterns, a leading global investment banking, securities trading and brokerage firm is the latest casualty of our financial crisis.  If you haven't already taken steps to protect your business, do something TODAY!  It seems we are passengers aboard a sinking ship, and no one is throwing any life savers, it is up to you to save yourself.

If you haven't collected from your cusotmers that owe you money, that is something that should be your top priority this week.  If you don't start trying to collect the money that is due to you now, you may not get that money.

Remember that some people will be getting that stimulus money and in a poll done by the Wall Street Journal, 79% of people who are getting that money are using it to pay bills and not to spend as President Bush wants them to do to stimulate the economy.

In my opinion that stimulus money will not stimulate the economy because people are having a hard time paying for necessities, they have lost their jobs and their homes and their credit cards are maxed out. They CAN"T spend any money as President Bush expects because they can't buy food for their children. Find out if any of your customers can use some of that money to pay off any debts they have with you.