spike60
Addicted to ArboristSite
On leaves from the AF, I would lend a hand in my old man's small engine shop. I always wondered how he stayed in business as noone was willing to pay a reasonable rate for the work done. Just the tear down and cleanup of a 1 lunger to replace a carb took time. Time that could not be billed at a reasonable rate.
Our local shop closed a few years ago. I was buddied up with the owner and as he was closing he showed me one reason. Reached in a drawer and pulled out a stack about 4" thick of bills he had been stiffed on.
Harry K
Best way to avoid that is not to extend credit in the first place. You don't go to the grocery store and say "hey , can I pay you in a couple of weeks?" Why do it at the saw shop? Not to mention the extra work involved with sending out and keeping track of monthly statements. In todays world, every one should own at least one credit card. There is no reason for a shop owner to play banker.
Husky has a pretty good retail finance program with GE. Whenever someone asks for credit, I just hand him an ap. If they give me a funny look, then I figure that validates me not giving him the credit on my own.
I've got another source I use for sub-prime. You would just not believe the rotten credit history of some people. Charge offs, repo's, late fees. Had a dude last week trying to buy a commercial mower and his credit score was 502.