Dont Sweat the Small Stuff with Your Credit Policy

Do you know how many customers you have that are past due right now? How many bad checks are sitting on your desk that you don't know what to do with? How many dunning letters do you send out a month?

How would you like to answer those questions with none, or very few? In a new book, "Become the Squeaky Wheel," Michelle Dunn, explains and outlines some easy procedures you can use to erase bad debt, and prevent it in the future.

"One thing that is often overlooked is how to prevent future credit issues," says Michelle Dunn. "I am always amazed at how creditors will hire someone to collect the bad debt they have but do nothing to prevent future problems."

"Business owners should implement a credit policy before they start their business, it should be included in their business plan," says Dunn. If you're an existing business with bad debt, you can create a credit policy and implement it with existing and future customers right now.

If you have a pile of bad debt, it is never too late to implement a credit policy. The sooner you do it, the better your chances are of collecting what is already owed to you and preventing future bad debt, so you won't be in this situation again.

Michelle Dunn has over 17 years experience in credit and debt collection. She is the founder of Never Dunn Publishing, LLC, is a writer, consultant and the Editorial Advisor for Eli Financial Debt Collection Compliance Alert Newsletter. Michelle started M.A.D. Collection Agency and ran is successfully for 7 years. She also owns and runs Credit & Collections.com an online community for credit and business professionals.

She has written 5 books in her Collecting Money Series She is currently writing a book for the Streetwise Series, part of the Adams Media Corporation. In addition to writing and marketing her books, Michelle moderates and runs Credit & Collections.com and was a member of The American Collectors Association for 9 years.

In The News:

Yahoo! News: Top Stories

President-elect Barack Obama makes remarks on the nations economy, Thursday, Jan. 8, 2009, at George Mason University in Fairfax, Va. (AP Photo/Lawrence Jackson)AP - President-elect Barack Obama's proposed tax cuts ran into opposition Thursday from senators in his own party who said they wouldn't do much to stimulate the economy or create jobs. Senators from both parties agreed that Congress should do something to stimulate the economy. But Democratic senators emerging from a private meeting of the Senate Finance Committee criticized business and individual tax cuts in Obama's stimulus plan.



Palestinian demonstrators use sling-shots to hurl stones at Israeli soldiers during a demonstration against Israel's military operation in Gaza, in the West Bank village of Bilin, near Ramallah,Thursday, Jan. 8, 2009. Israel resumed its Gaza offensive Wednesday after a three-hour lull to allow delivery of humanitarian aid, bombing heavily around suspected smuggling tunnels near the border with Egypt. Despite the heavy fighting, strides appeared to be being made on the diplomatic front with the U.S. throwing its weight behind a deal being brokered by France and Egypt. (AP Photo/Muhammed Muheisen)AP - The U.N. Security Council called for an "immediate" and "durable" cease-fire in Gaza in a resolution Thursday night even as fighting between Israel and Hamas raged — with early morning airstrikes killing seven Palestinians and pushing the death toll to about 760 in the near two-week conflict.



Florida's Tim Tebow (15) throws a pass over Oklahoma's Auston English (33) during the third quarter of the BCS Championship NCAA college football game in Miami, Thursday, Jan. 8, 2009. (AP Photo/Mark Humphrey)AP - The game defied expectations. Tim Tebow fulfilled them. He rescued No. 1 Florida, running through and throwing over No. 2 Oklahoma for a 24-14 victory Thursday night that gave the Gators their second BCS championship in three years.



Rep. Jack Franks (D-Woodstock) votes to recommend the impeachment of Illinois Gov. Rod Blagojevich to the House during an Illinois House Impeachment Committee hearing Thursday, Jan. 8, 2009, in Springfield, Ill. The committee voted unanimously to recommend impeachment putting the matter before the full house.  (AP Photo/Seth Perlman)AP - A key panel unanimously recommended impeachment for Gov. Rod Blagojevich on Thursday, setting up a vote that could make him the first governor to face such fate in Illinois' sordid political history. Blagojevich should lose his job for abusing power, mismanaging government and committing possible criminal acts, including federal allegations he tried to sell off a U.S. Senate seat, the special committee concluded.



A sign instructs job seekers at the California Employment Development Department in Sunnyvale, Calif., Tuesday, Jan. 6, 2009. The country lost nearly 2 million jobs through November and more bad news is expected this week when the government releases data on weekly jobless claims and December unemployment. No matter how bad those numbers are, and economists expect at least another 500,000 jobs were lost last month, the pain is stretching into 2009.  (AP Photo/Marcio Jose Sanchez)AP - Trying to survive a deepening recession, employers are cutting their work forces to the bone, leaving more Americans unemployed and with dim prospects of finding a new job any time soon.



Neel Kashkari, the assistant treasury secretary in charge of the bailout program, speaks at the Brookings Institution in Washington, Thursday, Jan. 8, 2009. (AP Photo/Haraz N. Ghanbari)AP - Less than a month after its first report, a congressional panel overseeing the Treasury Department's $700 billion financial bailout is demanding more answers.



Freida Pinto backstage with the best picture award for 'Slumdog Millionaire' at the 14th Annual Critics' Choice Awards on Thursday Jan. 8, 2009 in Santa Monica, Calif. (AP Photo/Dan Steinberg)AP - The critics have spoken, and "Slumdog Millionaire" is their final answer.



Vice President Dick Cheney pauses during an interview with the Associated Press at the White House in Washington Thursday, Jan. 8, 2009. (AP Photo/Ron Edmonds)AP - Vice President Dick Cheney said Thursday that he sees no reason for President George W. Bush to pre-emptively pardon anyone at the CIA involved in harsh interrogations of suspected terrorists. "I don't have any reason to believe that anybody in the agency did anything illegal," he said.



Recruiter Sgt. Mario Ashe (L) and Christopher Stevens talk in the tactical operations center area of the U.S. Army Experience center at the Franklin Mills mall in Philadelphia, Pennsylvania, January 7, 2009. The U.S. Army, struggling to ensure it has enough manpower as it fights wars in Iraq and Afghanistan, is wooing young Americans with video games, Google maps and simulated attacks on enemy positions from an Apache helicopter. Departing from the recruiting environment of metal tables and uniformed soldiers in a drab military building, the Army has invested $12 million in a facility that looks like a cross between a hotel lobby and a video arcade. Picture taken January 7, 2009. (Tim Shaffer/Reuters)AP - U.S. policy to win in Afghanistan must recognize the poor nation's limitations and its neighborhood, especially its intertwined relationship with U.S. terrorism-fighting ally Pakistan, the top U.S. military commander in the region said Thursday.



The east side apartment building where Bernard Madoff remains under house arrest is seen Thursday, Jan. 8, 2009, in New York. Prosecutors said Thursday that investigators found 100 signed checks worth $173 million in Bernard Madoff's office desk that he was ready to send out to his closest family and friends at the time of his arrest last month. (AP Photo/ Louis Lanzano)AP - Prosecutors said Thursday that investigators found 100 signed checks worth $173 million in Bernard Madoff's office desk that he was ready to send out to his closest family and friends at the time of his arrest last month in what is alleged to be largest financial fraud in history.



Israelis take cover before a rocket fired by Palestinians in Gaza lands in Beersheba, after they attended the funeral of Israeli soldier Alex Mashavisky, January 7, 2009. (Eric Gaillard/Reuters)Reuters - Israel pushed ahead with its offensive in the Gaza Strip on Friday, ignoring a U.N. Security Council resolution calling for an immediate ceasefire in the 14-day-old conflict.



Jaclyn Holt (R) fills out an application form at a job fair organized by the New Hampshire Employment Security agency in Salem, New Hampshire December 17, 2008. (Brian Snyder/Reuters)Reuters - U.S. employers probably cut the most jobs in at least 34 years last month as the global economic crisis gathered pace and moves by policy makers took time to filter through to struggling companies.



Reuters - A report being released on Friday alleges that the U.S. Treasury has failed to reveal its strategy for stabilizing the financial system, not answered questions asked by a government watchdog, and has done nothing to help struggling homeowners, the Wall Street Journal said.

People taking the Long Island Foreclosure Tour arrive at a foreclosed home for sale in New Hyde Park, New York in this May 17, 2008 file photo. Citigroup could soon agree to principles that would let troubled borrowers save their homes through bankruptcy, sources familiar with the talks said on Thursday, while industry groups are easing their opposition to the plan. (Shannon Stapleton/Reuters)Reuters - Financial giant Citigroup Inc will support a proposal in Congress to rewrite U.S. bankruptcy law to help troubled mortgage borrowers avoid foreclosure, Chief Executive Vikram Pandit said on Thursday.



Illinois Governor Rod Blagojevich gestures as he announces former Illinois Attorney General Roland Burris as his choice to fill the vacant U.S. Senate seat of President-elect Barack Obama during a news conference in Chicago, Illinois December 30, 2008. (Frank Polich/Reuters)Reuters - A legislative committee on Thursday recommended the impeachment of Illinois Gov. Rod Blagojevich, citing widespread abuse of power including allegations he tried to sell the U.S. Senate seat vacated by President-elect Barack Obama.



Timothy Geithner (R), pictured in Chicago, November 24, 2008. (Jeff Haynes/Reuters)Reuters - President-elect Barack Obama's economic team is urgently overhauling the $700 billion financial rescue package to broaden its scope beyond Wall Street, The Washington Post reported on Friday.



Usama al-Kini, Al Qaeda's operations chief in Pakistan, is pictured in this undated FBI Most Wanted photograph. Al-Kini, also known as Fahid Mohammed Ally Msalam, and a top aide are believed to be dead, a U.S. counterterrorism official said on January 8, 2009, in what appeared to be the latest results of a campaign targeting the militant group's leadership. Operations chief al-Kini was thought responsible for attacks, including the bombing of a Marriott hotel in Islamabad that killed 55 people in September, and an unsuccessful attempt to kill former Pakistani Prime Minister Benazir Bhutto, who was later assassinated in a separate attack, the official said. (FBI/Handout/Reuters)Reuters - Al Qaeda's operations chief in Pakistan and a top aide are believed to be dead, a U.S. counterterrorism official said on Thursday, in what appeared to be the latest results of a campaign targeting the militant group's leadership.



Reuters - Some friends of accused swindler Bernard Madoff considered him a "warm and charming" man, and one of his alleged victims praised him just before his death in 2005, Fox Business Network reported on Thursday.

An Israeli army tank takes position on a hill at the border between Israel and the northern Gaza Strip on January 8, 2009. Israel was under intense pressure Friday to end its two-week-old offensive in the Gaza Strip after the UN Security Council called for an immediate ceasefire as the death toll from the war rose past 760.(AFP/David Buimovitch)AFP - Israel carried out new deadly air raids on the Gaza Strip on Friday as the UN Security Council called for an immediate ceasefire to end the two-week-old conflict in the Palestinian enclave.



A man carries firewood in the suburbs of Sofia, Bulgaria. Hopes for a quick resumption of Russian gas supplies to Europe were rising Friday after Russia agreed on the terms for the deployment of monitors in Ukraine.(AFP/Dimitar Dilkoff)AFP - Hopes for a quick resumption of Russian gas supplies to Europe were rising Friday after Russia agreed on the terms for the deployment of monitors in Ukraine.




Learn About Commercial Collections Agencies Fees

As with any other service, there are good and bad commercial collection... Read More

Outsourcing Quiz: Cheap Vs. Good

Someone can say, 'Why do you oppose this?' So I'd like to... Read More

Dont Let Your Measurements Mislead You

Don't Let Your Measurements Mislead You There aren't... Read More

Real Costs in Distribution and What it Means To Your Company

Ever feel that all the lawyers in thh Country need to give... Read More

Are you NICE or do you CARE?

Are you NICE or do you CARE? Most... Read More

The Ten Keys to Maximizing Employee Performance

1. Let people know what you expect. If people know what's expected... Read More

Sexual Harassment Policy Guidelines Part I

Sexual Harassment Policy Guidelines ? Part IPermission is hereby granted to modify... Read More

Shrinkage Control

What has been your store's shrinkage experience for the last two years?... Read More

Unveiling the Value of Your Expertise

All of us have knowledge, expertise, and experience that others can benefit... Read More

Best Workplaces

The Best Workplaces report (Financial Times, April 28, 2005) notes many factors... Read More

Integrity... Should It Matter?

In our fast paced work culture, manned by technology savvy generation in... Read More

Know Your Client - The First Rule of Business Coaching

Whilst the very best coaches have undertaken independently accredited training and or... Read More

Inspirational Power ( Part 1 )

The Fundamentals of Strategic Marketing, Some Key Traits for Greater EffectivenessProbably, the... Read More

Managing Performance: Don?t Let Slackers Bring Down Your ?A? Players

As a manager, it is your job to ensure that the work... Read More

Manage Your Time - Save Your Business.

If you work from home, chances are you already know that you're... Read More

Avoiding The Sheep Dip

It is a sad fact that many employees are still being subjected... Read More

Leadership Style: What Makes A Good Boss?

In today's competitive environment, companies realize that a good boss is one... Read More

Poor Employee Performance: How to Deal

KEEP WRITTEN RECORDS: "Document !Document! Document!" Keep a record of periodic performance... Read More

Hold Your Applause!

It's amazing what you can accomplish if you don't care who gets... Read More

Driving of work trucks

Each time you or one of your work crews cruises down the... Read More

Identifying Candidates for Leadership

A critical task in the succession planning process of any organization is... Read More

The Seven Cs: Partnership Danger Signs - Conflict Becoming the Norm ? Part 2

A series of articles exploring the seven critical areas that can indicate... Read More

Tales from the Corporate Frontlines: Adapting Human Resource Functions

This article relates to the human resource functions competency, commonly evaluated in... Read More

Minimising Conflict With Effective Communication

Did you know there are 5 types of communication that... Read More

The Power in Praising People

One of the keys to success is to have successful relationships. We... Read More

Recognition: A Quick, Low-cost Way to Motivate Employees

Recognizing good performance through praise or other positive action is one of... Read More

Management Consultants, Creativity, Innovation

Most firms have intelligent, capable, knowledgeable managers who are very good at... Read More

Provisioning/User Management System Upgrades: Part II ? Building Awareness And Building Approval

Somewhere in the world is a person who wants to see their... Read More

Balance Your Managerial Life

We have only one life, but we live in three overlapping worlds-our... Read More

Motivating For Higher Performance

Employee motivation is probably the most important single manageable factor for success... Read More

Building Trust in Your Business Relationships - 10 Steps

There are some simple things you can do with your people to... Read More

Delegate, Dont Abdicate

One of the key skills for the leaders of growing businesses is... Read More

Focus on Outcomes to Keep Your Business On-Course

Did you know that an airplane in flight is off course nearly... Read More

Enable Continuous Improvement of IT Services through ITIL

One of the major benefits, if not THE benefit of process orientated... Read More

An Honest Look at Your Business

There is a difference between being comfortable and being in apathy.It is... Read More

Group Discussion Guidelines

DISCUSSION METHODS: There are two basic types of discussion methods; the conference... Read More

Middle-Aged Managers, the Forgotten Digital Divide

The digital divide is defined by the role computers play within widening... Read More

Thoughts on Empowerment

People are empowered when they are given the authority and responsibility to... Read More

The Gift of Gratitude

Gratitude might seem like a soft or even an obvious subject to... Read More

Turn Your Speech Into A Leadership Talk

My experience working with thousands of leaders world wide for the past... Read More

Take the Easy Route - Delegate

It was 2.30 am. It was cold and dark and I'd been... Read More

The Seven Cs: Partnership Danger Signs - Communication Breakdown

An ongoing series of articles exploring the seven critical areas that can... Read More

Performance Evaluation: How To Create Change

STEPS TOWARDS GIVING A GOOD APPRAISAL INTERVIEW: Give specific feedback. Statements such... Read More

Recruitment - What Youre Really, Really Looking For

Imagine that you're a sports coach and you need a new player... Read More

Building the Trust in Your Employees - 12 Easy Tips

In Stephen Covey's great book, "The Seven Habits of Highly Effective People",... Read More

3 Ingredients of Highly Profitable Organizational Change

As waves of organizational change sweep across the business landscape, a huge... Read More

The Idol-Makers

The end of the television season in May included the usual array... Read More