Granting credit

Shell B

Hello

just revising for the 2nd section on credit management and i keep coming across this question and i my mind keeps going blank.

When refusing a company credit what suggestions can you give to help them improve there chances of credit being allowed in the future??????

Thanks for your help in advance

Shell B

SandyHood

Put in the context of your personal credit.

How might you obtain credit in future if you were turned down?

What sorts of things might lead to you (or a company) having a credit application refused?

So look at those things, and then say what could turn a refusal into an acceptance.

Paisley

Hi

Some useful advice in the Osborne book:

Sending a diplomatic and tactful letter explaining the situation.

Offering to trade on a cash basis for now, and to review the situation again in six months time when their latest accounts could be viewed.

Offering half-way house credit - shorter credit periods than 30 days or by offering payment using a percentage of cash and a percentage of credit.

Good luck with your assessment. I have this one soon too.