Consumers and businesses use credit to buy houses, cars, large domestic appliance, raw materials used for manufacturing and merchandise to be sold in shops. Credit managers have the final authority to accept or reject credit applications.
In extending credit to businesses, a credit manager analyses detailed financial reports, interviews the representatives of the various companies, and reviews credit agency reports to determine the debt repayment records of such firms. When extending credit to individuals, credit managers rely on personal interviews, credit bureaux and banks, together with trade reference checking.
In large organisations, credit managers may be responsible for establishing a credit policy. Many establish office procedure and supervise credit department employees. They may contact customers who do not repay their debts punctually and ultimately can refer such accounts to debt collection agencies or attorneys.
No self-employment possibilities exist, except perhaps as a debt collector