Setting Up A Credit Policy
Your Credit Policy Needs to be Visible and Known
Ambiguous credit policies are not a good idea and they are difficult to defend in court. Defending an ambiguous credit policy is bad, but it is just as bad trying to defend a detailed policy that no one is aware of. It is suggested that you make your credit policy public knowledge, how to get it, expected payments etc. It should be on your website in a prominent place so that there is no question about what the terms of credit and expectations are.
While a written, as well as online, credit policy, may not be the magic that turns every customer into a responsible and paying citizen, it establishes your expectations in black and white. When your customers fail to meet the expectations outlined in the written credit policy, it may be time to contact a creditor’s rights attorney, such as the firm of Taroff & Taitz, LLP. Taroff & Taitz, LLP believe that creditors have rights, and they will work with you and for you to help recover the credit that you have extended to those who fail to follow the credit policy that you put in writing. They represent a variety of lenders, in various stages of collection. Contact Taroff & Taitz, LLP today to start taking back what is owed to you.