The Credit Management function incorporates all of a company’s activities aimed at ensuring that customers pay their invoices within the defined payment terms and conditions. Perhaps they thought that since they could not imagine what may happen to overwhelm VW Group they should simply wait for a crisis to break and then thrash around, blame each other, fire people, apologise, ‘re-arrange the deckchairs on the Titanic’ and put aside a hopelessly inadequate €6.5 billion.
Finally, recall how (3) that particular firm had gotten a number of my creditors to approved a repayment schedule for me-only to later come back to me and try have CITIBANK raise my monthly payment to them by another 8 to 10 percent after I had sent in 500 plus dollars to obtain their services.
Debt management services are provided only when one is thoroughly checked for the eligibility to avail it. The agencies that provided debt management services first assess your financial condition, credit status and only after getting satisfied with your profile they provide you this service.
To realize profitability by any organization that sells on credit, good credit management must be in place; otherwise the company may suffer or even go under-receivership as a result of bad debts Be proactive in managing your debtor’s book if you want to reap the benefits of increased sales, resulting from extending credit.
It manages in the region of £1 billion of assets on behalf of clients, collects on average over £47 million per month on portfolios it either owns or services on behalf of clients, and has delivered a consistently strong financial performance, having grown its business in each of the last 18 years without exception.