Most people in business understand what a Credit Application form is and what it is used for. However experience has shown us that the majority of business people do not understand the effects and the power this document has when collecting debt(s), if used correctly. Most Credit Application forms that we have seen over the years are either out of date, do not have enough information or the information they have obtained is useless.
Just so you understand who we are and our expertise. My name is Sonia Ferlauto, the founder and director of Accelerated Collections Services. We are an all female team of debt collectors. We come to you armed with over 35 years in the debt collection industry and own my own debt collection agency in Sydney.
Let’s start by saying if you are in business, supply credit to businesses you need to read the following. Credit applications forms can save you thousands of dollars if you ask the right questions. This information could assist you with the prevention of debt collection in the future, if need be. We don’t want to paint a black picture for you however here is the reality. Let’s face it, we have heard of every excuse for not paying a debt! If you ask better questions on this form you will save yourself a lot of money. Also when the time comes to collect the debt this information is so useful its mind blowing. In addition, if you have the right words on the page you can obtain free debt collection from your collection agency. Yes you have read this correctly, Free! Everyone in business needs credit at some stage. So, by obtaining better information from your customer this will give you better results on your collections.
Here’s 3 tips and recommendation in a short summary:
- Find out the correct entity of the business and obtain a copy of the registration of the business/company to confirm the details are correct.
- Forget trade references ask for Bank details from the firm/company.
- Ask for Director Guarantee’s from companies for a second chance in collecting an account.
Trust this information will assist you in some way and we would like to encourage you to at least select one of the above items and make a change. It will only save you money!
After all aren’t we in business to earn money and not be an interest free bank for our customers. If you have any questions on this matter I would be more than happy to assist you and your business.