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.

Bankruptcy 130

Bankruptcy Chapter 11 Credit and Collections Collector 130

Your Virtual Credit Manager

AUGUST 11, 2024

Commercial bankruptcies have been surging since mid-2022. Department of Justice expects a sharp increase in bankruptcies with the U.S. As it turned out, half of this group had indeed filed for bankruptcy during this period. High-interest rates are the underlying culprit, squeezing many of these firm’s options.

Sub-Chapter V 100

Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

CreditStrong for Business

AUGUST 23, 2024

For perspective, the average score among consumers with a mortgage was 753 in 2020. When VA borrowers default, the VA reimburses their private lenders for a significant portion of their mortgage balances. How Does a Previous Bankruptcy or Foreclosure on Your Credit Report Affect Your Chances of Getting a VA Loan?

Credit Scoring 52

Credit Scoring Chapter 7 Bankruptcy Default 52

CreditStrong for Business

NOVEMBER 1, 2024

According to a report by the Congressional Research Service , SBA microloan intermediaries provided 5,890 loans to small businesses during the fiscal year 2020, with an average Microloan amount of $14,434. If the business defaults on the microloan, the lender can seize the collateral and sell it to recoup the remaining balance.

Small Businesses 52

Small Businesses Default Bankruptcy Credit Scoring 52

CreditStrong for Business

APRIL 3, 2023

For perspective, the average score among consumers with a mortgage was 753 in 2020. When VA borrowers default, the VA reimburses their private lenders for a significant portion of their mortgage balances. How Does a Previous Bankruptcy or Foreclosure on Your Credit Report Affect Your Chances of Getting a VA Loan?

Credit Scoring 59

Credit Scoring Chapter 7 Bankruptcy Default 59

CreditStrong for Business

AUGUST 9, 2024

In other words, it promises to cover a portion of the lender’s losses if the borrower defaults. It’s a loan loss reserve program, providing up to 100% coverage on certain defaults. Those funds can reduce or cover the lender’s losses when a borrower defaults. The loan terms for accounts through the program are favorable.

Small Businesses 52

Small Businesses Credit Scoring Credit Unions Default 52

aptic

OCTOBER 12, 2021

In the case of a bad loan, there’s a real possibility of bankruptcy and there’s a chance that the bank will not recover its money. In the fourth quarter of 2020, the non-performing loan (NPL) ratio of European banks was 2.6%, compared with 7% five years earlier. And an almost identical pattern has been observed in the past year.

Bad Debt 52

Bad Debt Credit and Collections Invoice to Cash Bankruptcy 52