I recently had the opportunity to address an industry credit group meeting and during the presentation recalled that in earlier times the basis of the credit decision centered on the "Three C's of Credit." My audience was very quiet and then a voice was heard to ask "what are the Three C's of Credit"?

 Driving back to the office I replayed the events of the meeting I had just attended. It was not just one voice that had asked the question but the majority of those present chimed in and wanted more information and to my amazement as I outlined the "Three C's" they scribbled furiously on their writing tablets.

Keep in mind this was not a seminar but a monthly meeting of an industry credit group sponsored by an association who prides itself on educating its members. Those in attendance were not all new to credit & collections. One gentleman came up to me after my presentation and informed me that he had been In credit for over 10 years and "had never heard of the 3 C's before now." Could this be possible? I am certainly not going to infer that he lied to me. At the same time is it any wonder that the debt in this country is what it is today? If we have put aside the basics of granting credit then we deserve the collection problems that we encounter daily.

If you e-mail me I will provide you the "3 C's of Credit" I truly hope I do not hear from any of you.

I wish you well.