Tag: credit application

Even “God” has an Equifax credit score

The credit reporting giant Equifax recently settled a bizarre case in late May which it was accused of denying a New York man named “God” entry into its credit database because it refused to recognize his legal name. Equifax’s original stance had led the man, Brooklyn jewelry dealer God Gazarov, to being denied one car loan,…

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Attention Landlords – We’re Good But We’re Not God!

Naturally in our line of work we have the opportunity to assist landlords with the headaches they cause themselves by accidentally renting to bad tenants.  From what we see selecting the right tenant is the most important step in the real estate rental business. Tenancy laws throughout Canada differ greatly, but they all set out…

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Apr/May 2010- Creating a Credit Policy

Creating a Credit Policy A written Credit Policy provides a structured approach to risk management and the debt collection process. A Credit Policy is essentially a consistent set of rules for deciding which of your customers is an acceptable credit risk. Organizations who extend credit prior to implementing a Credit Policy will inevitably find themselves…

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Dec/Jan 2009 – NET – Notable Elements of Triumph

NET – Notable Elements of Triumph Every business has a NET – Notable Elements of Triumph. But not many businesses have identified the few critical elements that contribute the most to their success or failure and therefore end up investing their time, energy, and money to treat symptoms with a band-aid instead of diagnosing and…

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Dec/Jan 2008 – Charging Late Fees

Charging Late Fees Business owners anxious to find ways to motivate their customers to pay on time are turning to a technique primarily associated with consumer lending – charging late fees or interest penalties. The practice, once shunned as unseemly in the business arena, is gaining converts, but what are the benefits and does it…

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Credit Application Basics

Credit Application Basics A credit application process should be considered an absolute must once the business grows to a point of critical mass and no longer allows the founding entrepreneur behind the business to make every sale, and intimately know every customer. A credit application serves the following purposes: It is an information gathering tool….

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