Creditors' Rights 15
Q: Why don’t more companies
establish a sound credit
and collections policy and
stick to it?
A: Many businesses are afraid
of having a rigid credit and collections
policy. This is because
the business owner is afraid that
asking for money that is owed will make a customer or client
upset or angry. But a business owner must realize that chasing
clients for money is a time-consuming activity, and a
good credit policy should reduce the number of customers
with payment problems. One thing is for sure, the longer you
wait to try to collect the money you’re owed, the less chance
you have of ever getting paid.
Click here to sign up for our important
one-hour teleseminar: “Slow and Late Payers: The Surprising
High Cost to Your Business,” Wednesday, February 22, 2006,
at 2 p.m. Eastern.
