CRUNCH !!!

Credit Crunch? What Credit Crunch?

Sitting in the UK in the accounts department of an SME you might be wondering what on earth the credit crunch has got to do with you. After all, this is all to do with US mortgages isn’t it?

Well, in the same way that small acorns can grow into mighty oaks, it seeks that mighty oaks can come tumbling down if it is overburdened with small acorns.

The economic problems faced by Americans today, in their personal and professional lives are starting to spill over into Britain. The long story (about how it all came about) is one for the economist, however, its sufficient to say that interest rates and fuel costs are rising sharply on a global basis and putting the squeeze on you and I.

However, it’s also affecting your debtors. Debtors are facing the same pressures that you are and the rapid rise in house prices and commercial lending rates are hurting debtors.

So that’s a microscopic look at the credit crunch. The harsh reality is that he who shouts loudest gets paid first, so don’t let credit terms drift or extend credit without checking out your customers first. You are often lending them money for your supplies when the bank wouldn’t!

Debt problems are spreading far and wide; both companies and individuals need to take stock and protect themselves from this epidemic of the credit crunch. To provide a service on the basis of unproven creditworthiness to a client is an incredibly risky business in the current climate.

This is where BACK inContact can help:-

We offer an extensive credit checking service to provide our clients with knowledge not guesswork.

We have expert advice on hand to help you manage your finances effectively and we can help provide you with an effective credit control procedure individually tailored to meet your needs.

If you have a tricky to collect invoice, at any stage in the process from just due to seriously overdue call us today. We can help and take away the hassle. The best bit is, it might even be free. Check out our web site to see how, www.backincontact.com.