Your Virtual Credit Manager

OCTOBER 15, 2024

(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.”

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Your Virtual Credit Manager

NOVEMBER 12, 2024

Here a sample of the news on this front: Commercial bankruptcy filings across all chapters increased 20% in the first 9 months of 2024 compared to 2023, with 22,550 filings versus 18,774 according to Epiq AACER. Meanwhile, commercial Chapter 11 filings increased 36% Allianze Trade forecasts bankruptcies in the US to increase by 12% in 2025.

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Your Virtual Credit Manager

AUGUST 1, 2023

Confirm that the bankruptcy has actually been filed with the bankruptcy court, and which type (usually Chapter 7 liquidation, Chapter 11 reorganization, or Chapter 13 if an individual is operating as a sole proprietor). More About Purchasing Credit Reports Absorb the impact up front and be done with it.

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Your Virtual Credit Manager

MARCH 26, 2024

In February, Epiq Bankruptcy reported that commercial Chapter 11 bankruptcy filings climbed 118 percent year-over-year. The Imperative for Both Periodic Reviews and Ongoing Monitoring One of the things you should do immediately upon approving a customer for credit terms is schedule their first Account Review. A Case in Point.

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