Your Virtual Credit Manager

MARCH 5, 2024

If you send an email or text you can attach a copy of their account statement and/or invoice ccopies. On a phone call, you should summarize all amounts past due, such as “you owe $10,000 that is over 30 days past due” or reference one or two large past due invoices (number, amount and due date), but no more.

Past Due Invoices 100

Past Due Invoices Credit and Collections Collector Accounts Receivable (AR) 100

Your Virtual Credit Manager

APRIL 25, 2023

Subscribe now A Transformative Experience A parts distributor was having difficulty with collections and high dispute volumes.

Credit and Collections 130

Credit and Collections Past Due Invoices Collector Deductions 130

Your Virtual Credit Manager

JUNE 4, 2024

Successful collections require the coordination of a variety of activities: timely and accurate invoices and payment posting, monthly statements, email reminders and other dunning notices as well as telephone calls. Of all these items, making the necessary phone calls generates the greatest value in respect to recovering past due invoices.

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

Your Virtual Credit Manager

NOVEMBER 14, 2023

Try to get a guaranty from a financially strong related party who will pay the AR if the customer defaults. These customers will require more intense follow up of past due invoices (e.g., at 4-7 days past due versus the two weeks or more that is typical). that is most compatible with the customer.

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Fundera

AUGUST 29, 2017

In asset-based lending, that collateral you offer against your loan provides security that the lender will end up getting their money back in the end—even if things go south and you default on the loan. In this worst-case scenario, an asset-based lender can (usually—depending on your agreement) recoup their losses by seizing the collateral.

Past Due Invoices 75

Past Due Invoices Credit Scoring Default AR Aging 75

Fundera

DECEMBER 2, 2015

Many traditional lenders would require you to sign a personal guarantee or put up collateral—like a family home—to guarantee repayment in the event of a default. For invoice factoring, the lender actually purchases your outstanding invoices outright in exchange for a flat sum, as well as for a percentage of payments received.

Past Due Invoices 61

Past Due Invoices Credit Scoring Default AR Aging 61

Fundera

NOVEMBER 29, 2019

The customer could default altogether. The longer the period of time between the receipt of goods and the payment for them, the higher the likelihood the customer will default on the payment altogether. And although you could turn the invoice over to collections, that just adds time to the collection cycle and expense to your business.

Credit and Collections 52

Credit and Collections Past Due Invoices Default Transactions 52

Fundera

JUNE 16, 2020

You also eliminate the risk of a customer defaulting on their payment. Address any invoices that have gone past due quickly and courteously. Offering early payment discounts not only gets you paid faster, but it also reduces the risk of customers defaulting on payments and increases customer goodwill.

Credit and Collections 40

Credit and Collections Past Due Invoices Default Small Businesses 40

Fundera

JANUARY 24, 2019

For example, you might see one of the following terms on an invoice with trade credit. Net 30: Payment due within 30 days of invoice date. Net 45: Payment due within 45 days of invoice date. Net 60: Payment due within 60 days of invoice date.

Small Businesses 63

Small Businesses Past Due Invoices Credit Scoring Default 63

Fundera

APRIL 24, 2017

For example, you might see one of the following terms on an invoice with trade credit. Net 30: Payment due within 30 days of invoice date. Net 45: Payment due within 45 days of invoice date. Net 60: Payment due within 60 days of invoice date.

Small Businesses 63

Small Businesses Past Due Invoices Default 63

Your Virtual Credit Manager

JANUARY 21, 2025

The experts at Your Virtual Credit Manager have default risk probabilities and other financial benchmarks for analyzing your AR portfolio and revealing actionable credit & collection insights. the credit limit is sufficient and any past due invoices are within your grace period) must necessarily be executed in a timely manner.

Order to Cash 130

Order to Cash Credit and Collections Bad Debt Accounts Receivable (AR) 130