Bankruptcies Caused Tighter Credit Terms
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Debt file for bankruptcy
Tips for Credit and Debt terms to know
In January of each year, the editors of Inc. Magazine publish an article focused on business trends corporate executives and entrepreneurs should be aware of in the upcoming year. Among the six trends predicted for 2009, one in particular caught stuck out. In large bold print, trend #4 reads: BANKRUPTCIES WILL CAUSE TIGHTER CREDIT TERMS.
Even though most economists forecast continued growth for our economy in 2009, many businesses will still continue to struggle. In 2010, I encourage you to stay vigilant in monitoring your terms of credit and accounts receivables with your customer base. This attention to detail on your part will help you have your business better prepared should any of your customers encounter these financial difficulties in the coming year.
Most importantly, know what time is the right time to turn your slow-paying accounts over to a reputable, SAS 70 certified, commercial collection agency like Burt & Associates. I have an article that addresses the topic of "Tips for Hiring a Commercial Collection Agency" that I would be happy to share with you. Simply send an email requesting the article to jerrycurtis@burtcollect.com, and I will send it to you promptly.