Remove Credit Application Remove Credit Scoring Remove Third Party Collections
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Here’s What You Need to Know About the Different FICO Score Versions

Fundera

This is especially true when you’re first starting out, if you haven’t established business credit , or if you’re trying to get financing without collateral. What’s a FICO Score, Anyway? FICO scores are credit scores that represent your risk to lenders. Industry-Specific FICO Scores.

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What Triggers Your Collection Efforts?

Your Virtual Credit Manager

When an unresponsive customer reaches 90 to 120 days past due, you should consider sending a final demand letter and then turning the account over to a third-party collection agency. Collection Activity: Investigate the reasons behind the abrupt changes in payment behavior and assess the debtor's financial situation.

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Twenty Action Priorities for Credit & Collections Managers

Trade Credit & Liquidity Management

Improve Credit Onboarding Automation and Controls: Provide a customizable credit application portal for new accounts that requires the documentation and an appropriate customer credit application to be completed fully and accurately prior to submission to the credit department.