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.
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.
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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.
aptic
OCTOBER 12, 2021
In the case of a bad loan, there’s a real possibility of bankruptcy and there’s a chance that the bank will not recover its money. At the same time, an Aptic survey of 404 finance professionals indicated that 29% of organisations have seen an increasing number of late payments or payment defaults since 2020. Rick Terra.
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.
Your Virtual Credit Manager
DECEMBER 20, 2022
The one measure that may fall short if the customer defaults is a Uniform Commercial code (UCC) Security Agreement — you may not be able to recover all your collateral or the proceeds thereof, especially if your UCC filing puts you in a second position behind a lender, which is a common situation.
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. Credit evaluations prevent more bad debts than collection efforts.
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