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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% Customer past due balances cause cash flow shortages, increase the need for borrowing, and create a significant work requirement in order to accelerate collections.

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Here Are the Distress Signals Private Firms Flash When They Are in Trouble

Your Virtual Credit Manager

Courts , commercial bankruptcy filings increased 40.3% Here’s a warning to trade creditor’s from a major commercial credit bureau (from CreditSafe’s Cost of Late Payments report). On the other hand, a customer bankruptcy or other default typically causes the loss of most if not all the AR owed by the customer.

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Due Diligence Doesn't End with the Credit Application

Your Virtual Credit Manager

Approving a customer for credit terms is merely the first step in an open credit relationship. Economic circumstances may cause you to tighten your credit policies and customer credit limits. Among other things, commercial bankruptcies have been steadily climbing over the past year.

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A look back at 2024: 5 trends in credit management from the past year

Onguard

Indeed, one in four bankruptcies occur due to late payments of invoices, according to EU data. According to the latest Allianz data, 2024 is already going in the books as a record year for insolvencies , with Western Europe leading the rebound in the number of cases. How has 2024 unfolded and what is expected for 2025?

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Accounts Receivable Outsourcing vs. A/R Collections Management Software: What You Need to Know

Gaviti

How well your team handles collections determines whether you have the cash to make payroll, pay taxes, and cover other financial obligations. What Is Accounts Receivable Collections Outsourcing? A/R collections outsourcing refers to the practice of hiring another entity to manage your collections activities.

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3 Reasons Your Books Should Be Your #1 Off-Season Priority

Fundera

But instead of ignoring your business all together, consider using your downtime to get your financial house in order—and priority #1 should be your books. Yes, expanding your customer base is always important, but focusing on your books is just as important, if not more so.). Simply put—your books! It happens to everyone.

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The Best Quick Trick to Start Building Your Credit Fast

Fundera

We’re thinking of a number between 300 and 850… and it’s your credit score. Unless you have an absolutely perfect credit score—850—we’re willing to bet that you’d like to tack on a few points to that three-digit number. Building credit fast is no easy task. But there are things you can do to bump up your credit score quickly.