Bankruptcy Credit Application Credit Management 
Your Virtual Credit Manager
JANUARY 7, 2025
While multiple factors can contribute to an organization's financial downfall, insufficient cash flow is typically the primary trigger for bankruptcy proceedings. Ineffective AR management and poor performance inevitably result in cash flow challenges. Your Virtual Credit Manager is a reader-supported publication.
Your Virtual Credit Manager
MARCH 4, 2025
We don’t, however, want to minimize the importance of the credit side of the equation. As discussed in a recent post , gathering customer information doesn’t stop with the credit application. You put your firm at risk by limiting credit assessments to only new customers, which is too often the case.
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Your Virtual Credit Manager
JANUARY 23, 2024
Among other things, commercial bankruptcies have been steadily climbing over the past year. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. Update credit applications: every 5 years, unless triggered sooner by a change in the business (e.g.,
Your Virtual Credit Manager
FEBRUARY 13, 2024
After, the Great Recession of 2008, commercial bankruptcies peaked in 2009 and did not drop below pre-recession levels until 2012. Department of Justice projects a substantial increase in bankruptcy filings. Trustee Program has estimated that bankruptcy filings will double over the next three years.
Your Virtual Credit Manager
APRIL 16, 2024
Ensuring Successful Debt Collections Even with these headwinds, there are steps trade creditors can take to improve their collections game: Be Proactive: It starts with a comprehensive credit application and vetting process and is complemented with clear communications about terms, the billing process, and the expectation of on-time payments.
Your Virtual Credit Manager
MARCH 19, 2024
To continue reading and learn about eleven events or circumstances that should trigger a collection response, in addition to when a customer goes past due, you need to be a paid subscriber to Your Virtual Credit Manager. The experts at Your Virtual Credit Manager can help you bring in the cash.
Your Virtual Credit Manager
DECEMBER 27, 2022
A business with a strong credit history is more likely to be considered creditworthy than one with a weaker credit history. A business's credit history also includes any past bankruptcies or defaults, as well as collection agency placements. Click here for more information about credit applications.
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