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Read this Before You Grant Credit to a Client

Before you grant credit to your clients take the following basic steps.

Do this even with current clients if you have not done it yet; especially if they have been paying you in cash.

Cash is good. They used to say cash is king but it could come back to bite you if that account that was so good for years suddenly goes sideways and you are owed monies.

Whether it is a company or your customer is a consumer:

  • Get copies of photo ID (preferably two)
  • Get their home as well as the business address.

Why do you need this? (they may ask)

Because if you give them credit you want to protect yourself.

Get a copy of a VOID check – it can be very useful down the road.

Lots of folks communicate by text now. It’s fast and It’s convenient. But it is not great should you have collection problems later on.

If you love text, use that by all means BUT use email for all the important stuff. For example: when you ask for payment. Scope of work or size of the order. Changes to orders or work. You get the idea.

And NEVER rely on just a phone call for anything important