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Storm Warning: Private Company Red Flags

Your Virtual Credit Manager

The United States has witnessed a significant surge in corporate bankruptcies, reaching a 14-year high in 2024. Business bankruptcy filings increased by 33.5% In contrast, customer bankruptcies or other defaults typically cause the loss of most, if not all, the AR owed. during the 12-month period ending September 30, 2024.

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Is Your AR Generating All the Cash Flow It Should?

Your Virtual Credit Manager

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! To make matters worse, invoice errors also tend to generate payment deductions (partial payments). Offer ends 9/30/23. Subscribe now 2.

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Red Flags, Slow Payments, and Collection Secrets

Your Virtual Credit Manager

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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Customer Stops Paying; Now What?

Your Virtual Credit Manager

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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What Triggers Your Collection Efforts?

Your Virtual Credit Manager

For more on systematic collections, check out this article from YVCM’s “Basics Department.” In contrast, legitimate disputes and payment deductions are typically indicative of a discrepancy between your invoice and the customer’s purchase order, which can be easily reconciled.

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9 Benefits of Getting an EIN (Even If You Don’t Have To)

Fundera

If you file for bankruptcy. Plus, for certain types of tax deductions, such as home office deductions for business, your chances of an IRS audit decrease if you have an EIN. “If Personal office deductions have a tendency to bring on IRS audits. Article Sources: IRS.gov. “ Multi-member LLCs. Prevent Identity Theft.

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Red Flags that Demand Your Attention

Your Virtual Credit Manager

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?