Remove 2022 Remove Accounts Receivable (AR) Remove Chapter 7
article thumbnail

The Imperative for Prioritizing Collections

Your Virtual Credit Manager

(Photo by Melinda Gimpel on Unsplash ) The American Bankruptcy Institute recently reported that, “The 6,067 total commercial chapter 11 bankruptcies filed during the first nine months of 2024 represented a 36 percent increase over the 4,561 filed during the same period in 2023.”

article thumbnail

Red Flags Revealed by Your Customers' Financial Statements

Your Virtual Credit Manager

Commercial bankruptcies have been surging since mid-2022. Chapter 11 filings, used by businesses hoping to reorganize, have increased by 34 percent in the first six months of 2024 compared to last year.