Setting Up a Credit Policy
Have a credit policy from the start
Prior to extending credit to your customers, be sure that they fully understand the terms and conditions of the credit policy ahead of time so that there no surprises. Once both parties are fully aware of the terms before any commerce takes place, they both have valid expectations and there should be no surprises in the future. Be sure you have your credit policy in writing and your customer should have a signed copy.
It’s important not just to have your credit policy available to customers in writing, it needs to be online as well. Unfortunately, even the best of credit policies will not be enough to keep some customers from being turned into debtors. When this happens, you will need a creditor’s rights attorney you can trust. Taroff & Taitz, LLP represents general creditors, mortgage lenders, mortgage servicers, and lending institutions in all phases of contingent collections. We understand that all creditors have rights and we will work hard on your behalf to recoup the debt you are owed. You offered the credit, you have every right to reclaim it! Contact Taroff & Taitz, LLP today.