by Nancy Seiverd | May 6, 2025 | Feature Article
Mother’s Day reminds us that real love isn’t about saying ‘yes’ to everything — it’s about knowing when to say ‘no’ for someone’s own good. In credit risk management, tough love isn’t just necessary, it’s the heart of protecting both customers and companies. Setting...
by Nancy Seiverd | May 6, 2025 | Uncategorized
If a credit risk manager is aiming for a Director of Global Credit role at a multinational company, the resume needs to do a lot more than just check boxes. It should tell a story that projects global leadership, strategic foresight, and deep operational experience....
by Nancy Seiverd | May 6, 2025 | Dear Crabby
Dear Crabby, I am the credit risk manager at a small manufacturing company that manufactures all kinds of industrial springs. I’ve been working here for about two years and overall, I have been working in credit and collections for over twenty years. Although I...
by Nancy Seiverd | May 6, 2025 | Poll
Take the Poll – What is your biggest concern regarding customer risk over the next 12 months?Increased customer bankruptcies/insolvenciesSlower payments and stretching of termsReduced demand impacting customer cash flowGeopolitical events disrupting global...
by Nancy Seiverd | Apr 4, 2025 | Feature Article
At first glance, Easter eggs — a symbol of fun, mystery, and childhood delight — seem to have little to do with the serious world of credit risk management. However, when we step back and ponder these two activities more deeply, intriguing similarities begin to...
by Nancy Seiverd | Apr 4, 2025 | Uncategorized
One of the most frequent complaints I’ve heard over the years from credit risk managers is that they don’t feel appreciated for their hard work in trying to increase cash flow and minimize the risk of selling on credit. In fact, as time goes by, some credit...
by Nancy Seiverd | Apr 4, 2025 | Hector the Collector
Hi Everyone, As always, I greatly appreciate your emails, especially when they mention how someone would like to improve and expand their professional goals. One email came from a middle-aged collector at an agency here in the US regarding his employment. After 5...
by Nancy Seiverd | Apr 4, 2025 | Poll
Take the Poll – With tariffs in full swing, are you tightening credit on foreign and/or domestic customers?No, it’s business as usualDepends on the credit amountDepends on the countryDepends on the relationshipTightening credit across the boardChoose When a broad...
by Nancy Seiverd | Mar 4, 2025 | Feature Article
It has certainly been quite the whirlwind over the past several weeks with many new changes in our regulatory agencies. One change that has hit close to my credit and collection home has to do with the sidelining of the Consumer Financial Protection...
by Nancy Seiverd | Mar 4, 2025 | Uncategorized
To be expected, as the use of AI continues to advance through the entire global business community, there is also an increase in the creation of forged Letters of Credit. A forged Letter of Credit (LC) is typically created to deceive a supplier into...
by Nancy Seiverd | Mar 4, 2025 | Dear Crabby
Dear Crabby, I am the credit and collection manager at a small logistics company. I’ve been working here for about one year and as a small company, I find myself wearing several multi-ethnic hats that are making me slightly unbalanced. Let me explain. I am an older...
by Nancy Seiverd | Mar 4, 2025 | Poll
Take the Poll – As a Credit & Collection Professional, when should you get your sales representative involved in collecting a past due account?Almost neverWhen the customer requests to talk to the sales repWhen there’s a disputeWhen you are being ignoredWhen you...
by Nancy Seiverd | Feb 4, 2025 | Feature Article
I don’t profess to be an economist. In fact, like many credit professionals, my focus is primarily on the credit and collection problems directly in front of me. However, in the back of my mind is the accumulation of all the news and opinions I’ve been hearing...
by Nancy Seiverd | Feb 4, 2025 | Uncategorized
Over the course of my credit and collection career, I’ve observed the careers of hundreds of credit professionals. Some may enter a client’s place of business as a high school graduate and slowly work their way up to becoming the credit and collection manager. Others...
by Nancy Seiverd | Feb 4, 2025 | Hector the Collector
Hi Everyone, It’s Hector and as always, I greatly appreciate receiving many wonderful emails from readers asking for my thoughts and guidance. Last month I received a rather concerning email from one in-house collection manager, I’ll call Joe, who was confronted...
by Nancy Seiverd | Feb 4, 2025 | Poll
Take the Poll – As a Credit Professional, what is your biggest regret regarding your career in credit?Not building relationshipsMaking too many extreme credit decisionsNot pursuing professional developmentNot leveraging technologyNot advocating for the credit...
by Nancy Seiverd | Jan 7, 2025 | Feature Article
I was talking with several relatives on New Year’s Day about my New Year’s resolutions and from their reaction, I guess my list seemed over the top. Since I like adventurous activities, which includes wall climbing, a few of them suggested...
by Nancy Seiverd | Jan 7, 2025 | Uncategorized
A client of mine was recently talking to me about one of their customers who had been covered under their credit insurance policy, but coverage was suddenly cancelled due to negative financial information that came to light. According to my client, they have been...
by Nancy Seiverd | Jan 7, 2025 | Dear Crabby
Dear Crabby, Hope you had a nice New Year holiday. I wish mine had been better — I was in a bad mood. Let me explain. I am the new credit and collection manager at my company and started one year ago. In just one short year, I reduced our DSO from 75 days...
by Nancy Seiverd | Jan 7, 2025 | Uncategorized
The “January Effect” is a well-known financial market phenomenon referring to a seasonal increase in stock prices during January, often attributed to year-end tax-loss selling, portfolio rebalancing, or increased market optimism. While it primarily impacts...
by Nancy Seiverd | Jan 7, 2025 | Poll
Take the Poll – Who at your company approves your credit & collection goals for the year?Only you as the credit professionalCFOTreasurerPresidentOtherChoose As a credit risk management professional, aligning your credit and collection goals with the objectives of...
by Nancy Seiverd | Dec 10, 2024 | Feature Article, Uncategorized
by Nancy Seiverd | Nov 7, 2024 | Feature Article
One of the most heartwarming Thanksgiving stories is the one about Wanda Dench and Jamal Hinton, often referred to as the “Thanksgiving Text Mix-Up.” It’s an example of how unexpected friendships can begin and the spirit of Thanksgiving. In 2016,...
by Nancy Seiverd | Nov 7, 2024 | Uncategorized
About one year ago, one of our clients asked us to help them interview candidates to fill the position of in-house collector for their commercial claims. They had received over two hundred resumes and in reviewing them, there were about two dozen candidates...
by Nancy Seiverd | Nov 7, 2024 | Hector the Collector
Hi Everyone, It’s Hector and I hope you all had a nice Halloween holiday. It won’t be long now before we go from eating a lot of candy to chowing down on some delicious turkey for Thanksgiving. In the meantime, I continue to receive wonderful emails from many...
by Nancy Seiverd | Nov 7, 2024 | Poll
Take the Poll – If you were the newly hired Director of Global Credit, would you:Keep all the current credit staff?Change up the staff where necessary?Change all the staff with people you have previously worked with?Follow HR protocols for hiring/firing?Choose Newly...
by Nancy Seiverd | Oct 7, 2024 | Feature Article, Uncategorized
I can’t believe how fast the summer flew by! But here we are in October and the leaves are turning all shades of yellow, orange, and red before finally falling to the ground leaving a huge mess for me to rake up around the house. At the end of the month, it’ll...
by Nancy Seiverd | Oct 7, 2024 | Uncategorized
If you’re a baby-boomer and older, there’s no doubt you’ve seen the “Who’s on First?” comedy skit between Bud Abbot & Lou Costello several times when you were growing up. They certainly brought out a lot of laughs with their silly antics. At least they...
by Nancy Seiverd | Oct 7, 2024 | Dear Crabby
Dear Crabby, I’m the credit manager at a liquor wholesaler and have been at my current company about eight years. Liquor wholesale distribution means that we sell to retail liquor stores, mom and pop convenient stores, some smaller supermarket chains, and to other...
by Nancy Seiverd | Oct 7, 2024 | Poll, Uncategorized
Take the Poll – In the current employment market, to what extent do the credentials CCE, CBA, CICP, or MBA, help someone to advance in their credit related career?Not much helpMaybe a little bitSomewhat helpfulVery helpfulChoose Whenever I have been asked to...
by Nancy Seiverd | Sep 6, 2024 | Feature Article
As schools begin across the country, I was talking with a few acquaintances about their children, some of whom are still in high school and others who are beginning college. One parent mentioned that they have their child on a “tight leash” when it comes to money and...
by Nancy Seiverd | Sep 6, 2024 | Uncategorized
In my many travels as a credit risk management consultant, I’d like to share an interesting collection situation that came across my desk. Several months ago, I was contacted by an Intellectual Property law firm which has been in business for several decades. Their...
by Nancy Seiverd | Sep 6, 2024 | Hector the Collector
Hi Everyone, It’s Hector and I hope you all had a real nice summer. Mine was very nice but went by way too fast. Fortunately, in between the office and the beach, your emails kept me busy. Among the correspondence was one inquiry about how to deal with a debtor (owner...
by Nancy Seiverd | Sep 6, 2024 | Poll
Take the Poll – If you are an in-house or third-party collector, what is the most satisfying thing about your job?Working with a great team of peopleCollecting the big and difficult accountsSurpassing monthly collection goalsMaintaining or repairing debtor-creditor...
by Nancy Seiverd | Aug 5, 2024 | Feature Article
A couple of months ago I received a letter from a performance ticket outlet letting me know that they incurred a data breach and that my personal information may have been compromised. The personal information not only included my name and basic contact details, but...
by Nancy Seiverd | Aug 5, 2024 | Uncategorized
From time to time, I am asked to help a client evaluate candidates for their open credit and/or collection positions. I feel very fortunate when I am requested to do this because I believe it reflects a deep level of trust between my client and our firm, and...
by Nancy Seiverd | Aug 5, 2024 | Dear Crabby
Dear Crabby, I’ve read your column for years but never thought I would be writing to you myself. But here I am with a problem and not sure how to handle it. I am the credit and collection manager at a small business that sells furniture to restaurants and bars. The...
by Nancy Seiverd | Aug 5, 2024 | Poll
Take the Poll – As a Credit Professional, which task takes up most of your weekly time?Reviewing credit applications and making credit decisionsCollecting past due accountsManaging staffImproving the credit & collection systemChoose When I first started out, I did...
by Nancy Seiverd | Jul 9, 2024 | Feature Article
Last month’s article, “A Young Man’s Nursing Home Journey,” resulted in many readers leaving comments and contacting me with their own stories. So many of you have had very heartfelt experiences in taking care of a loved one. They really touched me. One lady,...
by Nancy Seiverd | Jul 9, 2024 | Uncategorized
A couple of months ago I received a claim from a creditor in China. The creditor is a marketing research consulting firm, and they performed various focus groups on behalf of a beverage manufacturer in Pennsylvania that was trying to enter the Chinese...
by Nancy Seiverd | Jul 9, 2024 | Hector the Collector
Hi Everyone, It’s Hector here and I hope you’re enjoying your summer. Mine has been busy reading and answering many of your emails concerning all kinds of credit and collections issues and challenges. One email reflected my own life story as a...
by Nancy Seiverd | Jul 9, 2024 | Poll
Take the Poll – Has inflation impacted your credit protocols?No impact. It’s business as usual.We’ve adjusted credit limits only slightly. We’ve classified several more accounts as high risk.We’ve tightened credit across the board on all customers. Choose For the past...
by Nancy Seiverd | Jun 4, 2024 | Feature Article
At the end of last month, I attended my granddaughter’s high school graduation. Naturally, I am very proud of her and all that she has accomplished during her four years. As she prepares for college in the fall, I’m excited to see her future unfold in many promising...
by Nancy Seiverd | Jun 4, 2024 | Uncategorized
When it comes to obtaining credit information on privately held companies where financial information is often carefully guarded, the quality of the information in a report should be treated with some level of skepticism. As we have often seen, there can be a huge...
by Nancy Seiverd | Jun 4, 2024 | Dear Crabby
Dear Crabby, I am the credit and collection manager at a plastics recycling company and have been here for about 15 years. Our company buys all kinds of scrap plastic and after putting it through our recycling process, we sell it as raw material to other...
by Nancy Seiverd | Jun 4, 2024 | Poll
Take the Poll – How would you feel if the credit override was only about 20% of the amount you originally granted to the customer? I don’t like any credit overrides - period.I’d feel that my judgment is being questioned.I would grudgingly accept it.I wouldn’t mind....
by Nancy Seiverd | May 7, 2024 | Feature Article
As I was making some minor adjustments to our home security system recently with my grandson, he mentioned that the first home security system was invented by a woman. I said to him, “How do you know something like that?” He responded that his 7th grade history class...
by Nancy Seiverd | May 7, 2024 | Uncategorized
I have a client who has always sent a birthday gift to his customers as a way of showing his appreciation for their business. The client currently has about 100 customers, which means that he will send a gift to about 9-10 customers per month. The expense of the...
by Nancy Seiverd | May 7, 2024 | Hector the Collector
Hi Everyone! It’s Hector and as always, it’s wonderful to get your emails about your joys and challenges of collecting. I recently received one email from a gentleman, I’ll call him Ted, who has been struggling with his accent during collection calls. Ted is 45 years...
by Nancy Seiverd | May 7, 2024 | Poll
Take the Poll – How many times have you relied on a credit report that turned out to be misleading?3 times or less4-5 times6-7 times8 times or over Choose Credit reports are not perfect and in fact, they may often contain information that is either erroneous,...
