Remove Credit Management Remove Credit Risk Remove Debt Collections
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Tackling Customers that Always Pay Late

Your Virtual Credit Manager

To better deal with these customers, it is helpful to segregate them into three groups: Those who are financially strong (low credit risk) and are trying to increase their cash position through late payments. Your Virtual Credit Manager is a reader-supported publication. Do you need help improving cash flow?

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Dealing with Difficult Debtors

Your Virtual Credit Manager

These account provide a serious credit risk, and should not be approved for open credit terms. When an otherwise good customer because a habitual debtor, their credit limit should be revoked. Recovering what you are owed by this type of debtor requires an aggressive, though still professional, collection effort.

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Are You Your Own Worst Enemy?

Your Virtual Credit Manager

The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. The new customers you take on should exhibit an acceptable level of risk, but this can change over time. More About Purchasing Credit Reports The Final Analysis.

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Effective Strategies to Reduce Debtor Days

Know-It Global

Ensure you have a dedicated team or individual responsible for debt collection, maintaining regular communication with customers, and resolving payment issues. These tools streamline processes, reduce errors, and improve overall efficiency, enabling faster and more accurate credit management. Struggling for time?

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The Implications Of Company Structure On Debt Collection

JSP Credit Management

This article aims to explore the different types of companies that exist in the UK and discuss the implications of each of the different structures for the debt collection industry. Therefore, a business owner operating as a Sole trader will be 100% personally liable for all debts owed by the business.

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Complete Guide To Credit Control For Business

Know-It Global

This guide provides a comprehensive overview of credit control practices and strategies that your business can implement to mitigate credit risk, reduce debtor days and boost cashflow! Setting Up Credit Control Processes 1.1 3: Debt Recovery and Minimising Bad Debt 3.1

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What is Credit Risk Management: Principles, Examples, and Best Practices

Emagia

Credit risk management plays a critical role in the financial health and stability of businesses across industries. It involves identifying, assessing, and mitigating the potential risks associated with extending credit to customers or counterparties. What is Credit Risk Management?