My 7 year old son lent me $5 (which I then lent to his 12 year old brother) and then he lent his brother a further $10 directly so the older brother could buy something he really wanted at the time. Is it getting complicated already!?
This lending happened over a month ago and a conflict is brewing over the $10 he lent to the 12 year old because it was underwritten by his pocket money which had not been paid at the time.
All of a sudden I’m hearing about terms of trade from everyone! Maybe it’s because things are tight and customers need credit? Or maybe it’s because we have started offering course funding at $20 per week!!
We are busy updating our Credit Controllers Course right now. Check out some of the topics included that will get you up to speed.
Do You Have to Drop a Client Because of a Bad Credit Check?
A Credit Check is one of the most important first steps of good credit and debt management but you can still do business if the check comes back negative.
In a previous post on credit and debt management, I recommended that all businesses — regardless of whether they offer credit to customers on a 30-day account or not — perform a credit check on any new client who will spend more than $1000 on goods or services in one sale, on an ongoing basis.