Article Abstract:
Private label management of credit involves balancing between sound decision-making and ensuring that interest is unified. A company that manages its own credit market must consider the areas of receivables management, risk management, credit marketing, quality of service and productivity improvement carefully. Credit managers should ensure that credit decisions must have a balance between costs and benefits and contribute to company profits in the long run. On the other hand, the use of third party sources for managing credit also has its advantages. Companies which turn to third parties will have freer access to receivables investment, minimize costs related to technology and current retail credit practice and have benefits associated with third party partnerships. These third parties should be efficient in the areas of finance, strategic marketing, technology and organization or culture.
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Article Abstract:
Credit has become a significant part of American lifestyle. More than 100 million Americans borrow money frequently out of convenience, to answer certain needs or to improve quality of life. Credit gives borrowers the chance to own things immediately which saving will otherwise take a long time for. It can also be very useful in emergency situations involving health, employment and even life and death. There are restrictions, however, which lending institutions follow in granting loans to the public. Loan applicants are screened thoroughly as to their debt capability so that lenders are assured of payments and do not incur heavy losses. Maintaining good credibility gives borrowers credit availability and its material and non-material benefits while aiding the American economy.
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Article Abstract:
Issues of concern to the credit industry are to be found in both Federal and state legislatures, and five of the most important are examined in this legislative update. These five issues are: revenue; collection practices; credit reporting; credit card reporting; and general consumer protection. Under the category of general consumer protection is the popular legislative effort aimed at unsolicited telephone calls, and the approaches to this problem range from prohibition to intensive regulation.
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