Bankruptcy Or Unpaid Debt Can Ruin Your Life

The best way to prevent overdue accounts is to avoid doing business with customers who have bad credit histories.

“If it were only that simple,” you say. If you limited yourself to doing business with companies with a spotless credit record, your pool of potential customers would be relatively small. And unfortunately, as a growing business, you usually have no choice but to do business with anyone who wants to do business with you. Even then, you don´t always have complete control of the terms of your sales agreements. The reality is that your biggest and best clients need to be billed quarterly and then have 60 days to clear you. And you certainly don´t need to cut off those clients.
Description about “unpaid accounts”

While you don´t want to spoil any potential or established business relationships by laying down Siberian payment terms, you must take some control of your account receivables to avoid wreaking havoc with your cash flow. You´re not a array, after all.

These five steps can help your cash flow without endangering it.

Watch for new customers with a bad credit history. You can´t assume that a company or a person with a history of bouncing checks or paying their bills late will change their ways when dealing with you. If you must do business with the chronically late, lay down your credit rules early and firmly and establish the relationship off slowly. Keep the number of product or services you recommend a company with an questionable credit transactions to a minimum until they´ve proven themselves worthy. And no matter how much you want the job, never start doing business with another person or organization until you have a signed contract clearly stating and agreeing to pay terms.

Here is some information we offer in the event you find yourself with outstanding debt or a recent bankruptcy.

Part of your job application may depend on a credit check. Ok, but first you have to approve the credit check by signing a permission slip to validate the procedure. You know your financial situation. Be a truthful. If you lie, you will certainly be fired or not considered.

There maybe a credit report discover or you maybe asked to give permission for a background check to be completed. It is your right to ask what the background check includes and how they intend to use the information. Make sure you follow this advice. In the event they do charge a credit report, ask for a copy. Be prepared by running a copy of your account yourself. There are many sites on the internet where you can take credit reports, background checks and more.

Assuming or knowing your credit needs repair or you have filed bankruptcy, be willing to offer a brief exact report to your interviewer. Have confirmation about your story. Examples would be split, medical problems, death, unemployment, etc. It is necessary to describe your strong points showing that your poor credit does not affect your working abilities. Reference your former employer and support the interviewer call. The fact that a prospective employer pulls a credit report on a prospective employee does not mean that the job candidate will not use the employment.

Generally, when a company does a background check they also make a credit check. The credit check would be in addition to and the appointment order is not based only on the credit. It may be used as an extra reason to deny credit, but not the main reason.

Not getting the job is depressing, but being qualified and meeting all the requirements in times is not enough. If you do suspect a company is using your failure as the reason not to hire you, don’t be shy call and ask if your credit was the problem and which area of your credit or delinquent charges was the issue.

If the answer they give you are failure, you can order a complaint with the US Equal Employment Opportunity Commission and call the US Federal Trade Commission’s Consumer Response Center at 1-877-382-4357 . You can also contact the local consumer protection agency or your state attorney general.

Remember you are dealing with government offices so do not expect much influence on their part but do make the effort contact them and repeated. If you are a low-income earner, you can seek help from legal aid.

These are agencies you may contact:

US Equal Employment Opportunity Commission

US Federal Trade Commission Response Center

Privacy Rights Clearing House “Fact Sheets 16, 16a and 16b”

Fair Credit Reporting Act
Conclusion-” unpaid accounts

Credit is a major part of our community so it stands to reason the bankruptcies and outstanding charges, collections and damaged credit weighs heavily on employment opportunities. There are ways to explain potential problems as addressed above. The best way to get a clearer picture of your site is to maintain a credit check and background check. Easily accomplished with today’s internet content. If you know that credit has been an issue then prepare yourself a favor and pass a credit check and background check before applying for a promotion or before seeking work.