MNS Credit Management Group

MAY 3, 2023

The world of business-to-business (B2B) debt collection is a complex and ever-changing landscape, and global payment delays and bankruptcies can have a significant impact on the industry. In this article, we will explore the causes of these issues, their consequences in the b2b debt collection industry, and potential solutions.

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Bankruptcy Debt Collections Collector Credit and Collections 52

Trade Credit & Liquidity Management

APRIL 2, 2025

(Photo by Melinda Gimpel on Unsplash ) There is an efficient, inexpensive, and out-of-court option available for resolving and relaunching an insolvent business operation under Article 9 of the Uniform Commercial Code. Maximizing Recovery Value of Defaulted Business Loans. The problem here is that the chance of success is very small.

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Chapter 11 Bankruptcy Default Credit and Collections 40

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.

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Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Your Virtual Credit Manager

APRIL 16, 2024

Make sure you and your team understand the basics of the Uniform Commercial Code, Bankruptcy Statutes, and other regulations to avoid compliance pitfalls and missed opportunities to secure payments. Know the Law: Familiarize yourself with the legal complexities of commercial credit and debt collection.

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Onguard

DECEMBER 18, 2024

Indeed, one in four bankruptcies occur due to late payments of invoices, according to EU data. There is a road to win, as the GenZ of more digital natives enters the workforce, said Adriaan Kom in an article on VCMB earlier this year. Dont coach younger people, but get yourself a young coach. The tech landscape is changing so fast.

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Credit Management DSO Days Sales Outstanding Credit and Collections 52

Your Virtual Credit Manager

DECEMBER 26, 2023

In our case, we found our readers had an affinity for articles on identifying collection risks and the best ways of dealing with past due balances. Photo by Kelly Sikkema on Unsplash ) We are therefore providing you with an overview of three very popular articles along with links to the originals.

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Collector Credit and Collections Default Third Party Collections 130

CreditStrong for Business

FEBRUARY 25, 2025

In this article, we show you how to clean up your credit score and improve your score quickly after the cleanup. Try to keep your utilization rate below 30% to maintain or quickly boost your score Dont file for bankruptcy A bankruptcy can seriously damage your score, reducing it by up to 200 points. Can You Erase Bad Credit?

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Credit Scoring Bankruptcy Credit and Collections Credit Reporting Agencies 52

Your Virtual Credit Manager

FEBRUARY 28, 2023

Your Virtual Credit Manager (YVCM) previously published an article discussing the pros and cons of Prompt Payment Discounts. For more on this subject, check out this previous article on the importance of accurate and timely invoices. If not paid by the discount date, the full amount is due in 30 days.

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Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Your Virtual Credit Manager

MARCH 19, 2024

For more on systematic collections, check out this article from YVCM’s “Basics Department.” Bankruptcy Filings: When a business debtor files for bankruptcy, or other creditors force your customer into bankruptcy, your collection efforts must cease.

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Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

Your Virtual Credit Manager

MAY 2, 2023

Growth is down, interest rates continue rising, small businesses are facing a credit crunch, commercial bankruptcies are skyrocketing and experts see an emerging threat: Washington Post: U.S. In a bankruptcy, that puts you ahead of the unsecured creditors, but behind the secured creditors who have established priority.

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Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

Your Virtual Credit Manager

DECEMBER 6, 2022

Cash Flow is the number one cause of small business bankruptcies. At a very basic level, you should always have new customers complete a credit application, including bank and vendor (trade) references, and sign a credit agreement ( for an article about credit appications click here ).

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Fundera

JANUARY 19, 2019

File for bankruptcy. Bankruptcy : No one wants to file for bankruptcy protection , but this could be your last resort if something goes wrong (or you never managed to plan one of the solid exit strategies listed above). In fact, the writing may be on the wall for bankruptcy even before you’re ready.

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Your Virtual Credit Manager

DECEMBER 27, 2022

A business's credit history also includes any past bankruptcies or defaults, as well as collection agency placements. In addition, it is a plus when the owners and top managers have no history of bankruptcy. As this article has tried to explain, creditworthiness is situational. Some decisions are easier to make than others.

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Credit Scoring Credit and Collections Accounts Receivable (AR) Bankruptcy 130

Your Virtual Credit Manager

SEPTEMBER 19, 2023

Commercial bankruptcies have been trending upward for most of this year, so it is likely some of your customers are in a downward spiral, if it has not yet shown up in their payment pattern. Starting in October, free subscribers will only receive the introductory section of our weekly articles. Offer ends 9/30/23.

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Credit and Collections Default Bad Debt Credit Risk 130

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Starting in October, free subscribers will only receive the introductory section of our weekly articles. Plus, you get full access to our growing archive of over 100 articles! Offer ends 9/30/23. Subscribe now 2. Process Errors The same areas of the AR process come into play when it comes to generating errors.

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Credit and Collections Bad Debt Accounts Receivable (AR) Deductions 130

Fundera

AUGUST 25, 2017

Bankruptcy : No one wants to file for bankruptcy protection, but this could be your last resort if something goes wrong (or you never managed to plan one of the solid exit strategies listed above). If the option of bankruptcy does become a reality for you, see the Small Business Administration’s guide here.

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Small Businesses Bankruptcy 96

Fundera

SEPTEMBER 18, 2015

A powerful piece, the article primarily opines on the dangers of automatic withdrawals from bank accounts, or as the online lending industry likes to call it, “ACH.” On Monday Michael Corkery penned a piece in the New York Times that shed a much-needed light on the pitfalls of online lending for the unwary borrower.

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Credit Card Companies Bankruptcy Small Businesses 100

Your Virtual Credit Manager

JUNE 13, 2023

Subscribe now The Increasing Risk of a Growing Number of Defaults Commercial bankruptcies began rising late last year after the historic lows of 2020 and 2021. If you haven’t, you almost certainly will…on all three accounts. Not a subscriber … why don’t you take advantage of a free YVCM subscription?

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Credit and Collections Bad Debt Default Credit Risk 26

lsq

DECEMBER 20, 2024

For those facing significant financial strain, particularly those considering Chapter 11 bankruptcy, Debtor-in-Possession (DIP) financing offers a lifeline to stabilize operations and prepare for recovery. When these challenges escalate, Chapter 11 bankruptcy becomes a viable option for restructuring and recovery.

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Chapter 11 Bankruptcy 52

RMAi Blog

MAY 12, 2023

Seventh Circuit Holds Confusion and Concern Not Enough for Article III Standing Pucillo v. 26, 2023) A consumer filed for Chapter 7 bankruptcy, listing past-due rent he owed, and was subsequently granted a discharge. Nat’l Credit Sys. , 21-3131, 2023 U.S. LEXIS 10237 (7th Cir. The consumer appealed. On appeal, the U.S.

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Collector Law Firms Credit and Collections Debt Collections 100

Fundera

JUNE 26, 2017

But the aspect of the UCC we’ll be discussing—and what your business really needs to know about—is Article 1: General Provisions, or a UCC-1 Filing. It’s a really huge list of laws! What is a “UCC-1 filing?”. How is it filed?

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Bankruptcy Default Small Businesses Transactions 85

Fundera

MARCH 6, 2019

Bankruptcy. Turning to bankruptcy should be given careful thought because it will have a negative effect on the business credit score. bankruptcy) are all questions addressed by the business credit report. Articles of Incorporation.

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Credit Scoring Credit and Collections Bankruptcy Small Businesses 105

Abrigo

NOVEMBER 3, 2015

The media, of course, feeds the frenzy with television shows, articles, podcasts and a steady stream of click bait, aimed at illuminating the opaque world of valuation. In a world free of the risk of bankruptcy, businesses would use 100 percent debt financing. At what level does the market value the company?

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Bankruptcy Deductions Small Businesses 60

Fundera

NOVEMBER 23, 2018

But the aspect of the UCC we’ll be discussing—and what your business really needs to know about—is Article 1: General Provisions, which dictates UCC-1 Filings, more commonly referred to as UCC filings. Essentially, the UCC is really just a huge list of laws. What Is a UCC Filing Then? An Example of a UCC Lien Filing.

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Bankruptcy Default Small Businesses Transactions 75

Due

MARCH 27, 2024

As a child, I grew up in a family of financially broke parents, and bankruptcy wasn’t exactly a foreign concept. Start with social media, write guest articles and network both online and offline. I went back to school without any knowledge of investing. Building your brand doesn’t require fancy equipment or a huge budget.

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Bankruptcy 105

Due

JULY 18, 2023

And, sometimes, this has resulted in bankruptcy. As an example, despite filing for bankruptcy in 2022 , influencer Christie Swadling shared ‘money-saving tips’ online. Learn about personal finance by reading books and articles. Furthermore, many influencers are themselves broke.

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Due

FEBRUARY 6, 2023

As a result, this prevents harming your credit score or even bankruptcy. This Due article explains the different types of budgets and ho to choose the right type. There are many avenues that lead to damaged credit,” Peter Daisyme writes in a previous Due article. Can help ease the distress of living paycheck-to-paycheck.

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Credit Scoring Default Bankruptcy 115

Due

JUNE 16, 2023

The platform needed revenue quickly, and Musk made statements suggesting he thought the platform was headed for bankruptcy. Many allow users to read a certain number of free articles each month. Then, the user has to subscribe to continue reading additional articles. This option is popular with many online news outlets.

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Bankruptcy 64

Fundera

FEBRUARY 6, 2018

Bankruptcy. Turning to bankruptcy should be given careful thought because it will have a negative effect on the business credit score. bankruptcy) are all questions addressed by the business credit report. Articles of Incorporation.

Small Businesses 105

Small Businesses Credit Scoring Credit and Collections Bankruptcy 105

Abrigo

DECEMBER 29, 2023

Abrigo’s team of former bankers and other experts produced dozens of webinars , whitepapers, and blog articles in 2023 to help lending and credit staff. Thousands of banking professionals access these resources each year, and additional materials are routinely added with the goal of making banking professionals’ lives easier.

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Credit Risk Credit Unions Credit and Collections Small Businesses 88

Fundera

JUNE 28, 2017

Recently I read an article about a famous television star who is facing bankruptcy because her accountant mismanaged her finances. If you find yourself repeatedly asking the same questions without resolution, you should consider whether your accountant is qualified or has your best interests at heart.

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Bankruptcy Deductions 77

Due

MAY 21, 2023

The trading platform Voyager filed for bankruptcy in July along with crypto hedge fund Three Arrows Capital. According to its bankruptcy filings from last year, Three Arrows Capital faced $3.5 FTX and 100 of its affiliates filed for bankruptcy on November 11th. billion in creditors’ claims.

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Bankruptcy Investment Firms Transactions 64

CreditStrong for Business

FEBRUARY 25, 2025

In this article, we show you how to pick the best credit card for building credit score and present five unique card options to explore. It offers an opportunity to bounce back from past credit problems like bankruptcy or foreclosure. What Is a Credit Builder Credit Card?

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Credit Scoring Default Bankruptcy Dashboards 52

MNS Credit Management Group

OCTOBER 31, 2022

However, the article is concerned with the actions a debtor can take before going to court, which may include making an early investment even if it may end up losing good money behind bad. “Article (8) of the Insolvency Law Dubai” governs the regulations controlling those with financial difficulties.

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Debt Collections Credit and Collections Bankruptcy Default 52

Fundera

SEPTEMBER 15, 2020

If you file for bankruptcy. Article Sources: IRS.gov. “ Corporations and any entity taxed as a corporation. Multi-member LLCs. If you buy a business or inherit a business. If you have a Keogh plan or solo 401(k) retirement plan. For further assistance determining if you need an EIN, check out the IRS’s questionnaire. Treasury.gov.

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Deductions Small Businesses Bankruptcy Credit Scoring 130

Due

JULY 10, 2024

This article explores the reasons behind this recent downturn and the potential implications for Bitcoin’s future. Gox, a Japanese cryptocurrency exchange platform that declared bankruptcy in 2014. But despite the stock market hitting all-time highs, the cryptocurrency has seen a 20% drawdown in the past month. At the time, Mt.

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Bankruptcy Transactions 52

CreditStrong for Business

FEBRUARY 25, 2025

In this article, well explain how taking a mortgage impacts your score and how to quickly repair the effects. So, how many points does a mortgage raise your credit score ? The short answer is that on-time payments and proper management of your overall credit utilization will determine how much your score will increase.

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Credit Scoring Bankruptcy Dashboards Credit Management 52