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Outstanding Accounts Receivable

With another month gone, the cold weather is fast approaching, and so is the end of the year. At the end of the year you will not want to be left with remaining outstanding receivables, you will want them collected. Give the professionals at Burt and Associates a call and we will get those receivable collected before the holidays arrive.

Burt & Associates is a SAS-70 Type II certified and compliant Commercial Collection Agency. Please give me a call today to get us working for you.

Regards,

Jerry Curtis
President & CEO

Educational Tidbits For Today’s Credit Executive

A Few Ways to Protect Your Company’s Trade Receivables

In these uncertain economic times, it has never been more important to protect your company’s assets. One of those assets is trade receivables. Whether growing your firm internationally or just protecting your AR, there are a number of ways to make certain those receivables are handled efficiently. Irrevocable or even standby letters of credit certainly are a few ways to reduce the chances of not getting paid according to terms. Making certain your collection practices, and that means followup policies, are carried out in a timely manner certainly will reduce your company’s DSO. Obtaining credit insurance is a great way to protect your receivables as well. And of course, developing a sound relationship with a bonded and reliable third-party collection service is almost a necessity in today’s economic times.

The Credit Manager’s Q&A Corner

QUESTION: Explain the first creditors’ meeting in a bankruptcy case as a discovery device.

ANSWER: After a company files for bankruptcy protection, the first chance that creditors get to ask questions of the debtor under oath is at the creditors’ 341 meeting. This meeting takes place between twenty and forty days after the filing and the debtor’s presence at the meeting is mandatory. Creditors then have wide scope for asking questions, which can be about the debtor’s assets and liabilities or any issue that could affect the administration of the estate or other matters.

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