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Help with Accounts Receivable Management

This is the last week to qualify for a trip for 2 to Las Vegas, courtesy of Burt & Associates. Through Friday, August 31st, 2007, place an account with us that is over $10,000 and receive an entry into the drawing. Trip details can be found on our website at http://www.burtcollect.com/news/giveaway_rules2.html

Call your National Account Executive TODAY for further information on how you can become eligible for the trip to Las Vegas!!!

Burt & Associates is a SAS-70 Type II Certified commercial collection agency. As we begin to wrap up the summer, now is the best time to let us help you with your accounts receivable management. Call us today!

With warmest regards,

Jerry Curtis
President & CEO

Educational Tidbits For Today’s Credit Executive
A Brief Look at Avoiding Unexpected Bad-Debt Losses

Perhaps the best way to avoid unexpected bad-debt losses is to act proactively instead of just responding to the consequences after the losses occur. One means of protection is through trade credit insurance, which not only indemnifies losses incurred from trade-debt default but also helps the insured company avoid catastrophic losses while allowing the firm to grow profitably. Key to the strategy is to have the right information and the proper analysis to make informed credit decisions from the beginning, and then monitor risk effectively after goods are shipped. Insuring accounts receivable means understanding a firm’s trade sector, risk philosophy, internal credit-management expertise and other factors. It’s important to note that trade credit insurance doesn’t substitute for prudent credit management.

The Credit Manager’s Q&A Corner

QUESTION: Explain some important issues regarding assessing a bankruptcy claim.

ANSWER: Once a debtor has filed for bankruptcy protection, creditors start the unpredictable task of assessing their claims and finding the best way to recover them. Typically, large corporations have the resources to analyze and administer claims, but small and medium-sized firms are much less likely to be able to do a thorough valuation of creditors’ claims. However, electronic resources can help, as information about most corporate bankruptcies is accessible on the Internet. As a result, unlike in the dinosaur days before the Internet, all parties have equal access to public information about a bankruptcy filing. Further, the claims trading marketplace is generally transparent and fair. Still, doing due diligence can be an arduous task as it requires dealing with reams of court documents, financial statements and lawyers’ statements. You can also obtain the latest information on the status or events taking place at a bankrupt company by calling that court’s free Voice Case Information System phone number.

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