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Capitalize on Underperforming Accounts Receivables

From the Desk of Jerry Curtis

Dear Customer:

We are proud to be recently selected as an Inc. 500 company and recognized as one of the top commercial accounts receivables and financial services firms in the country. In addition, we are SAS 70 certified, which as you know fulfills any Sarbanes-Oxley requirement your company may have.

Enterprises rely on us to add to their bottomlines – in fact, in our 30 year history we have returned $357 million to our clients in bad commercial debt.

Let us demonstrate to you how your company can capitalize on underperforming accounts receivables. Those profits may be added to your bottomline within days.

Through the end of October, if you refer a company to Burt and that referral places an account of $1,000 or greater, you will receive a 50% discount off your regular fee on the next account you place. This offer is good through October 31, 2006. The 50% discount applies to one account only.

Hope to hear from you soon.

With warmest regards,

Jerry Curtis
President & CEO
469-368-6410, 800-755-7111 xt 210
jerrycurtis@burtcollect.com

Educational Tidbits For Today’s Credit Executive
The Small Business Engine

According to a recent report by the Office of Advocacy of the Small Business Administration, small U.S. businesses continue to be a major thrust behind the U.S. economy.Last year, small businesses represented 99.7% of all national employer businesses. Data in the report also suggested that small businesses employ more than 57 million Americans, just over half of the non-farm private-sector workforce.

The Credit Manager’s Q&A Corner

QUESTION: Discuss the issue of repurchase obligations as pre-petition protection under the U.S. Bankruptcy Code.

ANSWER: Sections 546(e) and (f) of the U.S. Bankruptcy Code provide protections for certain qualifying entities. Section 546(e) states that “the trustee may not avoid a transfer that is a…settlement payment, as defined in section 101 or 741 of this title, made by or to a…financial institution…[or] financial participant…that is made before the commencement of the case…”. Similarly, 546(f) provides that a “trustee may not avoid a transfer that is a…settlement payment, as defined in 741 of this title, made by or to a repo participant or financial participant, in connection with a repurchase agreement and that is made before the commencement of the case…”.As a result, these provisions afford significant protection to qualifying entities. The determination of whether an entity qualifies requires a close examination of various definitions of the bankruptcy code.