Business Credit Reports
Before you do business with a company you should always run a credit report. It will help you determine how much money to advance to the potential customer and if they don't pay you have more information to provide the collection agency.
John,
Great tip and one that many business owners do not do.
Michelle
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What can we have them sign to bind them legally?
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A personal guarantee is the only way to bind a debtor to a debt.
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I purchased a few of your reports and I gave credit to some companies that had a score below a B. Now I am having trouble getting paid. I guess I should have listened to the Maximum Credit Advice because now I need your help collecting the money.
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If you try to run your sales by only selling to those with a credit rating of A or B it might be hard to get new customers. Don't be afraid to ask for 50% down. I look forward to working on those past due accounts and I am glad to be your go to collection agency. Don't forget If you purchased a credit report and the account is less than 90 days past due we handle the case for a flat 15%.
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An update on my past due accounts, I am happy to say Rapid Recovery collected all 3 of the accounts I sent to them. Thank you for your help.
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Business credit report to know the capacity of the business to pay.
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