One of the scariest books I ever read as a kid was Stephen King’s IT. Why I was allowed to read such a scary book at the age of 12 is debatable, but even now, almost 30 years later, that book still gives me chills. I am reminded of the book since a new movie version of the story is set to be released this year. It got me thinking about real-life fears and real-life debts.
Like any good horror story, there is a certain amount of culpability involved with the “victims” of whatever is lurking. Maybe they choose to walk into an abandoned house or have the audacity to be underage teenagers kissing in the woods, or, as is the case in “IT,” maybe the main characters chose to explore sewer drains. Whatever the reason, the adversity that befalls these individuals, isn’t always completely outside of their control. Such is the life of a creditor.
While there will be factors that cannot be controlled, I find all too often that the tools that are available to mitigate bad debt are either ignored or sidestepped for the sake of convenience, or even worse, pure laziness. Do some research, weigh the risks, and check your measurements twice before jumping for that pot of gold.
Our question for the month of September:
What one tool is absolutely essential in determining the risk of a potential customer BEFORE a line of credit is extended?
LET PICB HELP WHERE OTHERS HAVE FAILED!
CREDIT RISK ASSESSMENT!
PROFESSIONAL COLLECTIONS TEAM!
DECADES OF EXPERIENCE WITH PRINTING INDUSTRY CREDIT AND COLLECTIONS!