Your Virtual Credit Manager
APRIL 23, 2024
Another thing trade creditors can study is companies that have defaulted or filed for bankruptcy. We’re going to look at the situations involving four well known companies that ended up in bankruptcy so we can better understand the circumstances that signal a commercial bankruptcy may be on the horizon. J.Crew Group, Inc.
Fundera
SEPTEMBER 27, 2020
And although there are grants and other relief options available to help businesses, one of the most viable avenues toward recovery is by declaring bankruptcy. Bankruptcy is far from a death sentence for most businesses. That said, here is a list of the major businesses that have filed for bankruptcy due to COVID-19.
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CreditStrong for Business
SEPTEMBER 12, 2024
Evictions, foreclosures, bankruptcies, and judgments are terrible news for your credit. Public records, such as bankruptcy filings or outstanding tax obligations, were entries that could hinder a consumer’s credit history. This resulted in bankruptcy being the only type of reportable derogatory public record.
CreditStrong for Business
AUGUST 30, 2024
The publicly reported events included bankruptcy, foreclosure, unpaid tax liens, and any civil judgments resulting from a lawsuit. In 2017, National Consumer Assistance Plan (NCAP) restricted credit reporting bureaus from posting the majority of public record entries in consumer credit reports.
Gaviti
OCTOBER 23, 2023
Its continually updated database delivers information to over 27 million businesses in the UK, including financial data, credit score and risk factors, collection history, past loans and bankruptcies.
ForwardAI
JANUARY 11, 2023
Data from 2017 shows that about 64% of SMBs surveyed suffered from delinquent payments and unpaid invoices across U.S.-based They risk losing their whole business waiting on an unpaid invoice, which contributes to a quarter of bankruptcies. based SMBs, totaling $825 billion at the time.
Fundera
AUGUST 26, 2018
That’s why they’re so ideal to finance startup costs, for instance; according to the US Small Business Administration, as of 2017, more than 10% of startups use a business credit card to get things off the ground. No one wants to—nor should—go straight to filing bankruptcy. Declare bankruptcy. Pay off high-interest debts first.
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