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

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. Learn More About Credit Reports Please share this newsletter with your small business customers. Bad debt losses were understandably huge.

Bad Debt 130

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

Credit Application 130

Credit Application Bad Debt Bankruptcy Credit Scoring 130

Fundera

AUGUST 11, 2016

You took out a small business loan with the best of intentions… But things didn’t quite work out the way you’d planned—and now you can’t make your loan payments. What happens when you default on a loan? What Happens When You Default on a Loan? What Happens When You Default on a Loan?:

Default 75

Default Credit Reporting Agencies Credit and Collections Credit Scoring 75

Fundera

FEBRUARY 6, 2018

Running a business involves a constant learning curve. And that applies whether you’re a rookie entrepreneur just starting out with a great idea for a new business or a more established small business owner with a quickly growing business that needs to expand. Accounting Terms to Know. Accounts Receivable.

Small Businesses 105

Small Businesses Credit Scoring Credit and Collections Bankruptcy 105

Fundera

OCTOBER 20, 2019

How to Manage Small Business Finances in 5 Comprehensive Steps. Choose a business bank account and separate your personal and business finances. Organize your business finances by using accounting software and hiring a professional. Understand and fulfill your business tax responsibilities.

Small Businesses 101

Small Businesses Credit Scoring Credit and Collections Default 101

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. it just might help them collect faster and pay you sooner.

Credit Management 130

Credit Management Credit and Collections Accounts Receivable (AR) Bankruptcy 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. Share Read more

Chapter 11 100

Chapter 11 Bad Debt Bankruptcy Accounts Receivable (AR) 100

Fundera

MARCH 28, 2018

You probably know how important your credit score is when you’re applying for a small business loan. Still, as a small business owner, it’s crucial to keep your personal credit score as high as possible. You’ll keep your credit score high—and eventually get the best deal possible on your small business loan.

Small Businesses 88

Small Businesses Credit Scoring Default Credit and Collections 88

Your Virtual Credit Manager

AUGUST 11, 2024

Commercial bankruptcies have been surging since mid-2022. Chapter 11 filings, used by businesses hoping to reorganize, have increased by 34 percent in the first six months of 2024 compared to last year. Department of Justice expects a sharp increase in bankruptcies with the U.S. And the future is bleak — the U.S.

Sub-Chapter V 100

Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

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.

Collector 130

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. Please feel free to share this newsletter with your small business customers. economy grew at 1.1% 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. Please share this newsletter with your small business customers. A business with a strong credit history is more likely to be considered creditworthy than one with a weaker credit history.

Credit Scoring 130

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

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.

Third Party Collections 100

Third Party Collections Credit and Collections Bankruptcy Bad Debt 100

Your Virtual Credit Manager

JUNE 13, 2023

Far more damaging is a customer that defaults (never pays). These bad debt losses can put your own business at risk of failure. 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. it just might help them pay you sooner!

Credit and Collections 26

Credit and Collections Bad Debt Default Credit Risk 26

Fundera

NOVEMBER 9, 2016

So, small business owner, you need to finance your business… Who’s going to be the small business lender to step up and meet your financing needs? But with signs that commercial banks are opening their credit to small business owners , now’s a great time to consider bank loans for your business.

Small Businesses 82

Small Businesses Credit and Collections Default Bankruptcy 82

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.

Credit and Collections 130

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

Fundera

NOVEMBER 17, 2018

Some small business owners are already financial experts: they have MBAs, experience in the private sector, and strong literacy in all things related to managing small business finances. If managing finances for a small business has you feeling completely overwhelmed, take a look at this comprehensive primer.

Small Businesses 75

Small Businesses Credit Scoring Credit and Collections Default 75

Fundera

NOVEMBER 17, 2018

Some small business owners are already financial experts: they have MBAs, experience in the private sector, and strong literacy in all things related to managing small business finances. If managing finances for a small business has you feeling completely overwhelmed, take a look at this comprehensive primer.

Small Businesses 75

Small Businesses Credit Scoring Credit and Collections Default 75

Fundera

SEPTEMBER 1, 2017

And it’s an especially important figure for small business owners on the prowl for business financing. We’ll get more into why exactly that matters, but first let’s take a peek at a few different kinds of credit scores that matter to small business owners. Payment history (including bankruptcies and judgments).

Credit Scoring 92

Credit Scoring Bankruptcy Credit and Collections Default 92

Lendio

NOVEMBER 8, 2023

Some lenders are more tolerant of delinquency than others, but at a certain point, late and missed payments result in a default. Read to better understand how a default on a business loan typically plays out and how it could affect you. Default vs delinquency: Understanding the difference. So what happens if you default?

Default 52

Default Credit Scoring Credit and Collections Bankruptcy 52

Your Virtual Credit Manager

MARCH 19, 2024

Learn More About YVCM Services Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit. More About Purchasing Credit Reports Please feel free to share this newsletter with your small business customers.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

Fundera

MARCH 6, 2019

Running a business involves a constant learning curve. And that applies whether you’re a rookie entrepreneur just starting out with a great idea for a new business or a more established small business owner with a quickly growing business that needs to expand. Business Finance Terms and Definitions to Know.

Credit Scoring 105

Credit Scoring Credit and Collections Bankruptcy Small Businesses 105

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

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. Please feel free to share this newsletter with your small business customers. The bank will pay you if your customer defaults.

Credit and Collections 130

Credit and Collections Default Bad Debt Credit Risk 130

CreditStrong for Business

AUGUST 9, 2024

Running out of funds is one of the most significant dangers to small businesses, and loans can be frustratingly hard to obtain. Only 42% of small businesses managed to qualify for sufficient financing in 2021. As a result, local offerings are a great place for California business owners to start looking for funding.

Small Businesses 52

Small Businesses Credit Scoring Credit Unions Default 52

Your Virtual Credit Manager

JUNE 4, 2024

The experts at Your Virtual Credit Manager are currently offering 33 percent off our standard small business consulting rates. Learn More About Consulting Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit.

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

Fundera

JUNE 26, 2017

You might have seen a reference to a UCC-1 filing on your business’s credit report, but if that previous sentence just launched you into financial confusion—don’t worry! In exchange, the small business will obtain a loan.” What is the UCC? That would be the Uniform Commercial Code. How is it filed?

Bankruptcy 85

Bankruptcy Default Small Businesses Transactions 85

Your Virtual Credit Manager

DECEMBER 6, 2022

Under-performing AR has the potential to create a cash flow crisis that can shut down your business in very short order. Cash Flow is the number one cause of small business bankruptcies. Please feel free to share this newsletter with your small business customers. it just might help them pay you sooner!

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

Fundera

DECEMBER 13, 2018

When you’re navigating the small business loans process—or any kind of lending process, for that matter—you’re bound to bump up against your credit score again and again (and again). And, as you can imagine, getting a perfect credit score allows you the most and best small business loan options at your fingertips.

Credit Scoring 75

Credit Scoring Bankruptcy Credit and Collections Default 75

Abrigo

DECEMBER 29, 2023

From upcoming new requirements on small-business lending to watching out for deteriorating commercial real estate loans, these resources provided insight and tips to keep staff sharp. It provides some dos and don’ts for helping avoid construction loan defaults. Stay up to date on CFPB 1071.

Credit Risk 88

Credit Risk Credit Unions Credit and Collections Small Businesses 88

Fundera

MAY 10, 2016

And it’s an especially important figure for small business owners on the prowl for business financing. We’ll get more into why exactly that matters, but first let’s take a peek at a few different kinds of credit scores that matter to small business owners. Payment history (including bankruptcies and judgments).

Credit Scoring 76

Credit Scoring Bankruptcy Credit and Collections Default 76

CreditStrong for Business

JULY 11, 2024

It’d be helpful if you get it, but you’re probably wondering what credit score you need to get a small business loan. In this article, we’ll cover the different types of business loans and the credit expectations for each. SBA Loans The SBA offers some of the most diverse small business loans.

Credit Scoring 52

Credit Scoring Small Businesses Credit Unions Bad Debt 52

Fundera

SEPTEMBER 7, 2016

Big banks and small business lending—how do they fit together? With increasingly tight lending standards, the biggest banks don’t give out nearly enough business loans to small business owners who need financing. billion to small businesses. billion to small businesses. Definitely not.

Small Businesses 59

Small Businesses Credit Scoring Bankruptcy Credit Reporting Agencies 59

Fundera

MARCH 2, 2019

Loan Default Definition. Loan default occurs when a borrower breaches a material term of their loan agreement. The most common reason for a loan default is that the borrower stops making loan payments. When loan default occurs, the lender can accelerate the remaining balance or take legal action against the borrower.

Default 40

Default Bankruptcy Credit and Collections Credit Scoring 40

Your Virtual Credit Manager

MAY 16, 2023

By avoiding the following common traps, or myths if you will, businesses can minimize the risk of non-payment or default and make better informed decisions about extending credit to other businesses that will boost sales and profits. Please feel free to share this newsletter with your small business customers.

Bad Debt 100

Bad Debt Credit and Collections Default Small Businesses 100

Your Virtual Credit Manager

FEBRUARY 28, 2023

While bankruptcy filings have not increased substantially in the past year, they have begun to tick up and it is widely anticipated that filing will continue to increase as pandemic relief is finally spent, revenues decrease due to a faltering economy, and costs increase due to inflation and rising interest rates.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130