Credit Management.doc - Kammerer 1 Credit Management Name...

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Kammerer 1 Credit Management Name Course Instructor 24/07/17 Introduction Credit management is the progression of giving credit and recovering the credit back based on the terms that the credit was lent on. This is done after a thorough assessment is conducted on the client who wants to access credit from the lender. The only best way a lender can credit a client is through accurate assessment of the borrower’s creditworthiness. This is the best method that makes lending successful, (Fight 1). The primary function of credit management entails incorporation of all the activities of the company that will help in aiming and ensuring that customers pay their credits as per the defined terms and conditions of payment. Credit management has its importance of ensuring that the credit is paid on time and to avoid any late payments or even the tendencies of non-payment. Good management of credit ensures personal advantages such as the ability of a person being able to determine his or her worth as well as it helps one know how to plan and manage the funds he or she has.
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