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Lessons for Trade Creditors from Recent Bankruptcies

Your Virtual Credit Manager

The company filed for Chapter 11 bankruptcy protection in September 2010 and gradually closed its remaining stores. Despite efforts to restructure its debt and operations, Toys "R" Us ultimately filed for Chapter 11 bankruptcy protection in September 2017. The company later announced the liquidation of its U.S.

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Your Customer Filed for Bankruptcy: Now What?

Your Virtual Credit Manager

Confirm that the bankruptcy has actually been filed with the bankruptcy court, and which type (usually Chapter 7 liquidation, Chapter 11 reorganization, or Chapter 13 if an individual is operating as a sole proprietor). More About Purchasing Credit Reports Email YVCM about Consulting Final Thoughts.

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Welcome To The Small Business Guide To Bookkeeping

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Chapter 4: Accounts Receivable Learn how to record accounts receivable. Accounts receivable refers to the money owed to a business by its customers for goods or services provided on credit. Managing accounts receivable involves tracking outstanding invoices, collecting payments, and maintaining a healthy cash flow.

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Are There Hidden Risks in Your AR Portfolio?

Your Virtual Credit Manager

In February, Epiq Bankruptcy reported that commercial Chapter 11 bankruptcy filings climbed 118 percent year-over-year. The Imperative for Both Periodic Reviews and Ongoing Monitoring One of the things you should do immediately upon approving a customer for credit terms is schedule their first Account Review. A Case in Point.