Tag Archives: protect accounts receivable

Easy Ways to Determine Customer Risk

Posted by on November 7, 2013 at 8:06 pm.

Risk is an ever-present concern for credit professionals. Still, it’s not rare that an insolvency can put a creditor in a bad place. Regularly reminding oneself of risk warning signs will lessen the chance of a big loss, or being taken by surprise. Here are some tips gleaned from Credit Congress speakers for determining financial […]

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 […]

Odds It’s Fraud

Posted by on February 8, 2013 at 4:12 pm.

By Georgette Bevan, CCE, NACM Business Credit Services Business credit fraud is an intentional plot to scam a business out of “value” without payment. This may be accomplished by providing a credit department with carefully crafted inaccurate information hoping that it goes unnoticed thus allowing the flimflam artist to get away with as much value […]

Top Ten Reasons for Education

Posted by on July 29, 2011 at 10:48 pm.

Top Ten Reasons for Education
From slcc.edu

10. Your savings account is in the ashtray of your car.
9. The only thing your credit card is good for is scraping frost off your windshield.
8. Your medical plan is not to get sick.