Credit Problems and How to Avoid Them

by Wm. E. Locke

f\REDIT IS BECOMING a bigger word v in the English language every day, and we all know about it. Our American way of merchandising could not survive without it. and it is obvious that the majority of American consumers are pretty honest people, but what about the retailer who, in my opinion, is actually sabotaging the credit business. He advertises 'oeasy credit;"

Whoever heard of o'easy credit?" Doesn't that mean o'easy payments?" Or does it mean "easy credit granting" and all you furnished it, and proceeded to live "high on the hog." They both *orked, had a combined monthly income of 91,600 and seven children. This proves they are emotional. Well, friend wife decided to quit and stay home. Now they have to meet monthly expenses on his $800.

How can the average emotional credit buyer be kept out of the credit jungle so many get into? During the many years I have been counseling hundreds of market- ers in how-and how ttot 1o-profit from credit selling of goods and services, I have met very few aible to resist the temptation to make a credit sale to most anyone, yet unable to advise a debtor who is unable to pay. Education in the field of modern credit merchandising is the answer. If you have an inscrutatble person in control of your reoeivables, teach them credit management. Nothing is so enigmatic as a sit-down on progress and advancement. have to do is worry about the payments?

W'hoever heard of "easy payments?" The easy credit plan ads do not include, "Come and see us if you get stuck and canot pay." Instead, many ads tell us we won't have to make a payment {or X numher of months; some appeal to our ego, some to our sentiments, and some to our normal wants. Not many can resist this kind of advertising.

Many clients I have assisted during my long professional practice have asked me why I do not approve advertising 'oeasy credit." If theywant to advertisethatcredit is available why not include in their ads, 'oYour credit is good with us if it's good elsewhere," Or, "Ask us about our modern credit plan." Or, "Our credit department is here to serve you."

I believe there are three kinds of credit buyers: the intellectual, the emotional. and the rest of us. For example, some ttemotional credit buyers" who are friends of ours recently bought a $53,000 homg re-

Got a credit problem? Write Bill Loche lor inlormatipn on holiling credit seminars in your olfi" 1", your stafr, or your wlwlesalers and, d,htribunrs. Also auailable is his Credit Mana,gers Notebook. Write: W. E. Incke, consulta,nt, anil Polbilo Business Forms,StlOI Balbu. Sl., Son Franciso.