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In store credit

Does any store owner have some tips on how I can setup an
instore credit program? I need to make an application and a
system to determine credibilty.

Any suggestions would be greatly appreciated.

Hi Earl, In my opinion an instore account system would be a
loss for you in the long run. The store I work for now used
to have such a system until he just went with a couple of
finance companys. The negative side of the inhouse accounts
is that you have to worry about the collections of the bad
ones. In North Carolina this means I have to go to the county
seat of the county they reside to file a small claims
action. I don’t enjoy road trips. And just because you get a
judgement does’nt mean your going to get anything. Then I
guess there is the monthly ritual of sending out statements.
The positive side to using a finance company is you get your
money right away. They worry about collecting the bills. With
the company we’re with now the customer fills out thier
application, we send it in and with a short time we know if
they are approved or not. It does make life so much easier. I
hope I don’t seem too down on having an accounts receivable
but I’ve spent too much time in the courtroom rather at my
bench where I belong.

                           Michael B