Tag Archives: collections

Letters of Credit v. Security Deposits

Posted by on November 5, 2013 at 11:29 pm.

By Dana Farmer. Smith Knowles, PC Some creditors find that maintaining security deposits for marginal customers is a convenient method to protect against default. However, security deposits are still considered to be the property of your customer and if the customer files bankruptcy the bankruptcy trustee has the authority to take the security deposit. Therefore, […]

Cooperation and Fairness When Dealing with Debtors

Posted by on August 2, 2013 at 8:15 pm.

Melissa Mickelsen, CBF, Geneva Rock Products, Inc. The NACM Canons of Business Credit Ethics state that “Cooperation, fairness and honesty must dominate in all insolvent debtor proceedings.” Further, the Canons state that “Creditors must render all possible assistance to honest debtors who become insolvent.” As credit professionals, do we ever struggle with this pledge? Do […]

Personal Guarantees

Posted by on October 11, 2012 at 3:48 pm.

A Simple Agreement to Improve Credit & Collections By Shane Inglesby, CCE, Geneva Rock Products, Inc. Credit and collections – it’s what we do for a living. Without collection opportunities, we would not be employed. As much as we bemoan the challenges we confront on a daily basis, we have to admit that this challenge is […]

Credit & Collection Incentive Program

Posted by on August 28, 2012 at 3:31 pm.

By Georgette Bevan, CCE, NACM Business Credit Services Times are tough – we all know it. A credit department incentive program may be just the thing to motivate and stimulate credit and collection performance and boost cash flow. A credit department incentive program should be constructed with several considerations in mind. What are your organization’s […]

The Influential Credit Manager

Posted by on June 4, 2012 at 4:33 pm.

By Georgette Bevan, CCE, Director of Education, NACM Business Credit Services If only ________________ (insert job title or name) understood that _______ (insert credit wisdom here).” Has that phrase ever slipped from your lips at work? Credit is a tough and challenging job! You probably wear multiple hats and have numerous irons in the fire. […]

Practical Tips & Common Sense in Credit

Posted by on July 6, 2011 at 2:59 pm.

Invoice every business day.