How to clear up Bad Credit
Cleaning up Bad CreditAsk new clients for retail credentials or purchase an on-line credit verification. Think about lowering your credit limits for new clients until you're sure they can and will make timely payments. Create clear business rules (if necessary with the help of your own consultants). Alerts your clients to this and get them to accept your business policy.
Publish your conditions on your website and submit a copy with your goods and bills. Add a provision that you will retain goods until they are settled and ask your clients to notify you immediately of any possible supply issues. Recall that you have the legal right to claim interest on arrears (even if you do not intend to exercise this right).
Verify to whom and where you should ship your bills; you may need to ship them for authorization to the purchaser before they are settled, or directly to the company's accounting team. Submit your bills promptly and track payment as it's due. Rethink the conditions under which you do deals with clients who periodically make belated payment, e.g. by raising the price you bill them or terminating their credit line.
They may also consider suspending the customer's credit line to prevent further credit sells until the balance is made. Exclusion of liability: This Atom Content Marketer' s item serves only as a general guide for UK companies subject to the law of England.