Your Virtual Credit Manager

MARCH 21, 2023

Subscribe now Lessons to Be Learned Looked at from the perspective of somebody responsible for the management of a portfolio of accounts receivable (AR), the events surrounding the SVB collapse present a cautionary tale. Not a subscriber … why don’t you take advantage of a free YVCM subscription?

Accounts Receivable (AR) 130

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

Fundera

JANUARY 13, 2018

A personal guarantee is simply an agreement a business owner signs agreeing to use their personal assets to pay back the loan in the event the business can’t pay back the loan itself. . It’s sort of like the business owner becomes a personal “co-signer” of the loan.

Default 79

Default Business Bankruptcy Small Businesses Bankruptcy 79

Abrigo

JANUARY 27, 2016

In the event of fraud, lawyers will look to mitigate losses through any possible channel – In many cases, lawyers will assert that the accountant should have detected the fraud as an easy way to seek damages. Sudden changes can strain even the best relationships with clients.

Business Bankruptcy 60

Business Bankruptcy Bankruptcy 60

Fundera

MARCH 10, 2019

In addition, a spouse who owns less than 20% of the business must still provide a personal guarantee if the combined ownership interest of both spouses is 20%. It’s sort of like the business owner becoming a personal “co-signer” of the loan. How Do Personal Guarantees Work? This offers more protection for your personal assets.

Default 74

Default Credit and Collections Small Businesses Business Bankruptcy 74

Fundera

JANUARY 13, 2018

A personal guarantee is simply an agreement a business owner signs agreeing to use their personal assets to pay back the loan in the event the business can’t pay back the loan itself. . It’s sort of like the business owner becomes a personal “co-signer” of the loan.

Default 52

Default Business Bankruptcy Small Businesses Bankruptcy 52

Fundera

OCTOBER 23, 2019

Since an LLC is a legally separate entity from the owner, the owner isn’t personally liable for the business’s obligations. If the business fails, the owners can file for business bankruptcy , and they don’t have to pay business creditors out of their own pockets. On top of this, LLCs offer tax flexibility.

Bankruptcy 40

Bankruptcy Business Bankruptcy Default Credit and Collections 40

Due

MAY 28, 2023

Additionally, small businesses often can’t pay their existing debt, leading to decreased business credit scores or even bankruptcy. Again, small businesses are the most vulnerable, so during a recession the number of small business bankruptcies often increases significantly.

Bankruptcy 53

Bankruptcy Credit and Collections Business Bankruptcy Small Businesses 53