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Guidelines to Enhance Good Credit Control

 

When you are a company, and you want to give credits to your clients, you have to come up with a strategy so that you cannot lose money. You should be aware that some people can take your money and fail to pay and that will lead you to operate under a loss. So you need to ensure before you give anyone money there is security so that in case he or she fails to pay you can piss the property, and you can be able to pay your salary. There are various guidelines so that you can ensure good credit control. They include; you should have a credit application form that will be able to contain all the details of your clients. That will act as a proof that the person applied for the loan and you have all the details about him or her.

 

You should also make sure that a new customer you have to be able to have a guarantor who will be ab;e to act as a witness to the person who is taking the loan. The personal guarantee is the one who is usually responsible for the credit in case the one who invested does not pay. Your company will be able to reach the person through the personal guarantee thus ensuring that your company does not lose its money, click here to know more!

 

You should also to decide to know the customers that are qualified for the loan. Not every person who applies the mortgage is entitled to get you should look well at the bank statements and how active his account is that way you can be able to decide whether he or she qualifies to get the loan. Know more about loans at https://en.wikipedia.org/wiki/Business_loan.

 

You should make sure you conduct regular credit checks on your regular customers so that you can be able to make them interested in your company. You should make sure that in case of disputes you can be able to solve the conflicts. There should be ways in case you have a dispute o the credits you can be able to come up with solutions to show the statement to the client hence gaining trust in them. You should ensure the terms of the agreement specify the credit term and how your clients should pay the credit. They should be a term so that you can ensure that the loan is paid within the specified period without fail. The agreement should be done in writing so that it can act as a prove, click here to get started!

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