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The letter of explanation addresses red flags that might derail your approval: why you were unemployed for a period of time or why there’s an unpaid balance on your credit report. Not every ...
A goodwill letter is a formal letter sent to a creditor, lender or collection agency to request forgiveness for a late payment or other negative item on your credit report. In the letter, you ...
Thanks to the Fair Credit Reporting Act and other important credit legislation, credit card issuers are required to send you a letter explaining why your credit card application was denied. This ...
In finance, bad debt, occasionally called uncollectible accounts expense, is a monetary amount owed to a creditor that is unlikely to be paid and for which the creditor is not willing to take action to collect for various reasons, often due to the debtor not having the money to pay, for example due to a company going into liquidation or insolvency.
Hiring and firing credit analysts, accounts receivable and collections personnel. Enforcing the "stop list" of supply of goods and services to customers. Removing bad debts from the ledger (Bad Debt Write-Offs). Setting credit limits. Setting credit terms beyond those within credit analysts' authority. Setting credit rating criteria.
Business letters can have many types of content, for example to request direct information or action from another party, to order supplies from a supplier, to point out a mistake by the letter's recipient, to reply directly to a request, to apologize for a wrong, or to convey goodwill. A business letter is sometimes useful because it produces a ...
The bottom line. It’s important to review your credit report regularly and dispute all inaccurate information. A Section 609 dispute letter allows consumers to request verification of accounts ...
Sample dunning record, from a 1913 business manual. Dunning is the process of methodically communicating with customers to ensure the collection of accounts receivable . Communications progress from gentle reminders to threatening letters and phone calls and more or less intimidating location visits as accounts become more overdue .