Interesting facts! 78 percent of all bad debts will come from customers that have been with your firm for 2 or more years. Every 96 seconds a company in the U.S. closes its doors. Every 60 seconds a shippers credit changes. Every 7 minutes a company declares bankruptcy. Every 4 hours ownership of company’s changes.
With these facts in mind how is your customer’s credit? Most carriers check customer credit when a new account is opened, but fail to do afterwards. A trucking company should check a shipper’s credit on a monthly basis. The report should reflect how they are paying other carriers compared to your payments. Most credit agencies also offer alerts when a customer ratings declines.