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

Credibly

OCTOBER 31, 2023

These occurrences are collectively known as events of default. Additionally, your lender can report the default to credit bureaus, which can have a negative impact on your credit score and you’ll likely be unable to get another business loan ever again. Looking for a better way to handle business finances?

Default 40

Default Credit Scoring Credit and Collections Bankruptcy 40

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.

Credit and Collections 74

Credit and Collections Default Business Bankruptcy Small Businesses 74

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

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