Your Virtual Credit Manager

MARCH 4, 2025

This company was fortunate to avoid significant bad debt loss until Ames Department Stores, Kmart, and Fleming Foods (a distributor) all filed bankruptcy within the same year. To continue reading and learn more about credit policy and the four key elements of credit control, you must be a paid subscriber.

Bad Debt 130

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

Your Virtual Credit Manager

AUGUST 20, 2024

Here are some factors AR managers should anticipate: Interest rates may ease somewhat, but the days of easy money are over for the foreseeable future — working capital management is extremely important now Commercial bankruptcy filings are expected to continue rising (the U.S.

Credit Management 130

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

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. What do you need help with?

Bankruptcy 130

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

Your Virtual Credit Manager

JANUARY 23, 2024

Furthermore, new businesses and small businesses tend to have high failure rates, and there is good reason to believe a wave of defaults is coming. Among other things, commercial bankruptcies have been steadily climbing over the past year. What do you need help doing?

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Credit Application Bad Debt Bankruptcy Credit Scoring 130

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.” Trustee Program.

Chapter 11 100

Chapter 11 Bad Debt Bankruptcy Accounts Receivable (AR) 100

Your Virtual Credit Manager

JUNE 13, 2023

Far more damaging is a customer that defaults (never pays). The inability to recover the loss with new business puts a serious crimp in a firm’s cash flow, especially when the default involves a large amount. Also, credit limit increases can be required when a customer’s business is expanding.

Credit and Collections 26

Credit and Collections Bad Debt Default Credit Risk 26

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. Your Virtual Credit Manager has already covered this topic from several different perspective. As it turned out, half of this group had indeed filed for bankruptcy during this period.

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Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Your Virtual Credit Manager

OCTOBER 8, 2024

Older debts are often more difficult to recover because the debtor’s financial situation may worsen over time, or the business may close, become insolvent, or declare bankruptcy. In cases of bankruptcy or liquidation, the likelihood of repayment drops dramatically, as creditors may only receive partial payments or nothing at all.

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Third Party Collections Credit and Collections Bankruptcy Bad Debt 100

Your Virtual Credit Manager

DECEMBER 26, 2023

First we look at Red Flags that may indicate a customer could begin paying slower or default. Far more damaging is a customer that defaults (never pays). An inability to replace the loss with new business will put a serious crimp in your cash flow, especially when the default involves a large amount.

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Collector Credit and Collections Default Third Party Collections 130

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. There are several ways to mitigate the risk of extending credit on open terms. The headlines paint a grim picture. economy grew at 1.1%

Bankruptcy 100

Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

Your Virtual Credit Manager

DECEMBER 27, 2022

Cash flow is the biggest cause of customers defaults, but often cash flow is a result of other financial problems or miscues. A customer can be paying you with no problems, but then their bank line of credit comes up for review and is drastically cut back by the bank. Credit grantors will often consider other factors as well.

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

Your Virtual Credit Manager

APRIL 2, 2024

Still others may be predictive of default, financial distress or financial health, and creditworthiness. For instance, bankruptcy within the next two years is more easily defined than the more nebulous state of financial distress. delinquency or default) than will be found in a random sample.

Credit Scoring 130

Credit Scoring Credit and Collections Bad Debt Credit Risk 130

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.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

Your Virtual Credit Manager

JULY 23, 2024

This is especially true in the case of small business customers, who will do everything they can to keep paying their suppliers and vendors, including tapping out their personal credit, until the bottom falls out. Irregular payments are a clear warning sign that default may be around the corner. that’s nearly a 30% discount!

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Shared Service Center Small Businesses 130

Your Virtual Credit Manager

JUNE 4, 2024

A Cautionary Tale… As a corporate credit manager, I periodically was tasked with other finance department activities. The experts at Your Virtual Credit Manager are currently offering 33 percent off our standard small business consulting rates. it just might help them collect faster and pay you sooner.

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Poor Credit Management' We’ve already talked about how poor credit decisions can impact sales and collections. In small companies, this may occur due to a lack of credit analysis skills. Here’s more on credit evaluations. Credit management, however, doesn’t stop with the initial customer analysis.

Credit and Collections 130

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

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. It will reduce your Accounts Receivable (AR) balance and the associated elevated credit risk inherent in a larger AR. This translates to a 1 percent discount if paid within 10 days of the invoice date.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk 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. Mitigate the Risk with a Financial Instrument: Involving a third party with strong credit is a good way to get security on the debt owed you.

Credit and Collections 130

Credit and Collections Default Bad Debt Credit Risk 130

Your Virtual Credit Manager

DECEMBER 6, 2022

Cash Flow is the number one cause of small business bankruptcies. Without effective AR management, your cash flow is subject to entropy as the AR ages, as well as to the shocks caused by customer defaults. Buy Credit Reports In regard to collections, a well defined process is imperative. Cash is king.

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DSO Credit and Collections Bad Debt AR Aging 130

Know-It Global

JUNE 20, 2023

This guide provides a comprehensive overview of credit control practices and strategies that your business can implement to mitigate credit risk, reduce debtor days and boost cashflow! Setting Up Credit Control Processes 1.1 You can use historical data, sales forecasts, and credit payment patterns to project cash inflows.

Bad Debt 19

Bad Debt Credit and Collections Debt Collections Credit Risk 19

Your Virtual Credit Manager

MAY 16, 2023

Subscribe now Nine Credit Traps to Avoid Like anything else, you do not want your credit decisions biased by common fallacies or misplaced trust and perceptions. Credit evaluations prevent more bad debts than collection efforts. Setting credit limits that are too high can expose your business to slow payments or even default.

Bad Debt 100

Bad Debt Credit and Collections Default Small Businesses 100

CreditStrong for Business

FEBRUARY 25, 2025

If your past credit behavior caused your score to take a hit, all hope is not lost. In this guide, youll learn the basics of responsible credit management and discover how to improve your FICO credit score. What Is a Credit Score, and Why Does It Matter?

Credit Scoring 52

Credit Scoring Bankruptcy Dashboards Credit Management 52

CreditStrong for Business

FEBRUARY 25, 2025

Heres the difference it could make to your credit: Establishes payment history Making timely mortgage payments helps to establish a positive payment history, which accounts for 35% of your credit score. Yes, the length of your mortgage can significantly affect your credit score.

Credit Scoring 52

Credit Scoring Bankruptcy Dashboards Credit Management 52

TreviPay

SEPTEMBER 18, 2024

Trade credit insurance has become a vital tool for businesses looking to protect themselves from the risk of non-payment by customers. This type of insurance acts as a safety net, covering unpaid invoices when clients default or face financial difficulties. How Does Trade Credit Insurance Work?

Bad Debt 52

Bad Debt Default Credit and Collections Export Credit 52

Trade Credit & Liquidity Management

APRIL 2, 2025

By Robert DiNozzi Corporate Credit Managers face uncertain times. In a post-pandemic world, forbearance and amended credit agreements may no longer represent the most rational path for preserving the value of security interests. Maximizing Recovery Value of Defaulted Business Loans.

Chapter 11 40

Chapter 11 Bankruptcy Default Credit and Collections 40

MNS Credit Management Group

AUGUST 7, 2023

However, there is always the possibility of loan default. Lenders are picky about whose businesses they give credit to. A company that does not have a sufficient corporate credit score may struggle to obtain crucial loans. What is a company credit score? Business Credit Scores Are Determined By A Number Of Things.

Credit Scoring 52

Credit Scoring Credit Risk Credit and Collections Bad Debt 52

aptic

OCTOBER 12, 2021

Today, the UTP category is more relevant than ever in the field of credit management. In the case of a bad loan, there’s a real possibility of bankruptcy and there’s a chance that the bank will not recover its money. Frequent deferrals: Mutual dialogue and understanding are crucial aspects of successful credit management.

Bad Debt 52

Bad Debt Credit and Collections Invoice to Cash Bankruptcy 52

MNS Credit Management Group

OCTOBER 31, 2022

This includes instances where UAE residents are unable to pay debts like credit card bills or loans. The UAE bankruptcy legislation is distinct from this new statute. The present bankruptcy law in the UAE solely applies to businesses and entities based there. Establish credibility.

Debt Collections 52

Debt Collections Credit and Collections Bankruptcy Default 52

CreditStrong for Business

AUGUST 23, 2024

Report users can purchase business credit scores from Equifax too, such as: Business Delinquency Score Business Delinquency Financial Score Business Credit Risk Score Early Default Score And More Different business scoring models have different numerical ranges. What Information Isn’t In a Business Credit Report?

Credit Reporting Agencies 52

Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 52

MNS Credit Management Group

AUGUST 31, 2022

Business credit report which is also known as a company credit report, contains information regarding the business, such as ownership information, subsidiaries, company finances, risk scores, and any liens or bankruptcies. Once a company is incorporated and has a federal tax identification number, its credit report is created.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Bankruptcy Default 52

MNS Credit Management Group

MAY 25, 2023

.” A debtor and a creditor who are parties to a debt or credit arrangement shall abide by the terms of the agreement, particularly with regard to the repayment schedule of such debt, in accordance with the rules mentioned above. This imposes certain obligations on the creditor to recover the debt.

Debt Collections 52

Debt Collections Credit and Collections Collector Law Firms 52

Your Virtual Credit Manager

DECEMBER 20, 2022

The one measure that may fall short if the customer defaults is a Uniform Commercial code (UCC) Security Agreement — you may not be able to recover all your collateral or the proceeds thereof, especially if your UCC filing puts you in a second position behind a lender, which is a common situation.

Deductions 130

Deductions Credit and Collections Bad Debt Credit Risk 130

Your Virtual Credit Manager

AUGUST 22, 2023

Selling to new businesses on credit terms has always meant taking on more risk than is involved with established businesses, but recent substantial increases in inflation, interest rates, and labor costs raises the specter of a large number of business defaults for the foreseeable future.

Credit and Collections 130

Credit and Collections Bad Debt Credit Risk Small Businesses 130

Your Virtual Credit Manager

APRIL 15, 2025

If the cumulative impact of both these eventualities, slower payments and more defaults, is of sufficient size, your company could face insolvency. The simple truth of the matter is that cash flow problems are the primary cause of bankruptcies. Your Virtual Credit Manager is a reader-supported publication.

AR Aging 130

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

Your Virtual Credit Manager

FEBRUARY 11, 2025

From a credit management perspective, there is considerable uncertainty about the future as 2025 evolves. small businesses are financially distressed, and better than 6 of 10 of those businesses are carrying revolving debt on their credit cards—not a good sign. Your Virtual Credit Manager is a reader-supported publication.

Accounts Receivable (AR) 130

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

Your Virtual Credit Manager

DECEMBER 17, 2024

Your Virtual Credit Manager is a reader-supported publication. Besides driving process improvement, the experts at Your Virtual Credit Manager can apply default risk probabilities & other financial benchmarks to your AR portfolio that reveal actionable credit & collection insights.

Credit and Collections 130

Credit and Collections Bankruptcy Credit Risk Default 130

Your Virtual Credit Manager

MARCH 26, 2024

Meanwhile, the number of commercial bankruptcies is accelerating. In February, Epiq Bankruptcy reported that commercial Chapter 11 bankruptcy filings climbed 118 percent year-over-year. The experts at Your Virtual Credit Manager are currently offering 33 percent off our standard consulting rates. A Case in Point.

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Bankruptcy Bad Debt Credit Scoring Chapter 11 130