Thea Dudley
With more than 30 years of credit management experience in the LBM industry, Thea Dudley consults with companies on a wide range of credit and financial management issues. Thea is a frequent speaker for industry organizations such as Insulation Contractors Association of America, Western States Roofing Contractors Association Expo, National Insulation Contractors Exchange, International Builders Show, International Roofing Expo, JLC live! Remodelers/JLC/Deckmasters, Guardian Building Products Trade Shows, National Assoc. Of Credit Managers and National Women in Roofing
Latest Articles
Finance
When to ask for updated credit applications
How often should we be getting updated credit applications signed by our customers? Is there a period of inactivity on the account that should be a factor to consider if we ask the customer to sign the forms again?
Oxymorons in the credit department
Dear Thea,
If I hear the phrase “He has been a great customer with us forever. He always pays, he just runs slow,” I will scream!
Best practices for retention balances
My question is about retention. If prompt payment has happened throughout a project, would it be necessary to file a lien or bond claim for the retention balance?
What to do about personal guarantees on credit applications
What can you do when a potential customer refuses to sign the personal guarantee on your credit application?
Finance
Liability when extending credit
As a supplier, is there any liability in extending credit to a contractor whose workers compensation insurance isn’t current/active?
Finance
A case of old-fashioned identity theft
Dear Thea,
We are a small supply house—just two locations. We have been the victim of identity theft. Our checks are being intercepted prior to reaching us. Our customers who have been affected by this are upset with us.
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Finance
How to get sales reps to collect
Dear Thea,
Our sales reps get paid commission on the sales they make so you think that it would motivate them to help make sure we get paid. It doesn’t. How can I get them engaged and help get our money collected?
Finance
Customer management belongs to sales and credit departments
Dear Thea,
I have been a credit manager for a very long time. Over the years I have heard the sales reps I work with refer to the customer as “theirs” until it all goes downhill...
Sales reps: Learn to love ’em
Dear Thea, I recently attended a conference where you spoke, and you mentioned how much you have learned from sales reps. I respectfully have to disagree with you. In my opinion, sales reps are all the same.
Finance
Credit Q&A: Are my methodologies out of date?
Dear Thea,
I have been with my company for over 33 years. I started with them when I was just out of school and have...
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