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Is Your Company Ready for a Downturn in the Economy?

Credit Research Foundation

million jobs, and the unemployment rate peaked at 10% in October 2009. Since then, we’ve weathered the COVID-19 pandemic, which many experts predicted would lead to a wave of defaults and business closures. Does my team have the expertise and experience to keep us ahead of potential default situations? economy shed over 8.7

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Configuring ADS to generate interactive PDF for Adobe Reader 9.x and higher

SAP Credit Management

The issue was linked to a mismatch of default ADS configuration and PDF print forms (XDP forms by Adobe). Finding a path to success ADS instance was configured with default (out-of-the-box) parameters. That is with default configuration of producing PDF version 1.65. PDF version Compatible Adobe Reader Release year 1.6

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Can You Get a Loan Without a Job?

CreditStrong for Business

However, in 2009 legislators passed the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act), which might make qualifying more challenging. In the event of a default on a secured loan, the lender will take possession of the collateral asset based on a legal right or claim known as a lien.

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Addressing Portfolio Risk in Economic Uncertainty: Part 2 (2022)

FICO Blog

Assume an auto finance portfolio’s current underwriting risk management strategy requires applicants to have an expected 24-month default rate less than 3%. Figure 1: Auto finance account origination default rates by FICO® Auto Score 8, Oct 13-Oct 15 and Oct 07-Oct 09 versus a theoretical 3% default rate cut-off.

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Get Ready for a Wave of Commercial Bankruptcies

Your Virtual Credit Manager

After, the Great Recession of 2008, commercial bankruptcies peaked in 2009 and did not drop below pre-recession levels until 2012. Historically, business failures increase after a recession. Please feel free to share this newsletter with your small business customers. it just might help them pay you sooner!

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Corporate Health Indicators Signal an Economy in Transition

Loomis Sayles Credit Research

Leverage appears at manageable levels, defaults are currently low and the credit outlook has weakened only slightly. That was true when the tech bubble burst in the early 2000 s , in the financial crisis of 2007 to 2009 and in the brief COVID-induced recession of 2020. Pockets of strength.

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Declined for a Credit Card: What to Do Next

CreditStrong for Business

The Credit Card Accountability, Responsibility, and Disclosure Act of 2009 (CARD) imposes additional restrictions on offering cards to younger people. If you default, they’re responsible for paying your balances, which makes you a much safer lending prospect. First, you can’t qualify for any credit card while under the age of 18.