The other day when I was talking with some friends about our current economic situation, one of them mentioned that although they lost their job and their financial situation is stressed, for the time being they have several months of savings in their “emergency fund”...

It was a long and hot summer in my neck of the woods, which fortunately was periodically interrupted by the occasional downpour and cloudy day.   But now that it’s October, it won’t be long before we’re donning our winter coats, and for my generation, our galoshes....

From time to time our agency is requested to be the “back-up servicer” on asset-based loans that have become past due. The term, "back-up servicer,” is a nice way of saying “third party collection platform.” We are also at times the collection platform for factoring...

With the global economy experiencing some very unusual developments, I would like to put on my basic economics hat and convey to you what I think is happening in the global economy and how to use simple foreign exchange risk strategies. But first, let me mention a...

Letting work dominate your life means having less time and energy for the people who matter to you. Whether it’s your partner, children, family or friends, they will be getting less time (and more to the point, less quality time) with you. However...

Hardly a day passes where we don’t receive a claim against a company with a very confusing network of subsidiaries, sister companies, or affiliates. Although the claim might be against a sister company, sometimes trying to figure which entity will ultimately be...

Whether the distractions you experience at work occur because of someone else in the office or because you could benefit from a different routine, you can take various steps to help you focus longer and get more work done. Here are several ways...

Father’s Day is coming up on the 19th and for many families, it’s a time to appreciate one’s father.  Throughout the centuries, I suppose we could boil down a father's role in the family as the protector and to “bring home the bacon.” Chances are pretty good that...

Over the many years I’ve been in business, a regular reading and studying of the basic economic indicators has helped to me see the rhythm of how our economy works. As a credit professional, allow me to share with you my general understanding of the top three indices...

Small businesses have struggled over the past two years of the pandemic, facing shutdowns and closures, dealing with supply chain issues and a shortage in labor. Many business owners were hopeful that as time went on and COVID-19 cases...

Every day there seems to be another revelation regarding the global economy. Although the Covid pandemic seems to have come under a reasonable level of control in the US and Europe, China has continued to implement severe anti-virus spread restrictions in some of its...

In the above scenario,  one of the first questions that may come to mind is why after two months when the invoice is past due is the customer now mentioning a problem with the product? To understand if the customer’s complaint is legitimate, we...

In these unpredictable times, regretfully there are going to be instances where the scruples of some customers, for whatever reasons, may begin to fall short. Consequently, we need to be vigilant about the validity of financial statements submitted to support...

Personal guarantees will often make the difference in collecting a past due account compared to simply obtaining a judgment. Obtaining a personal guarantee should coincide with your credit policy and like every contractual document that...

Every business in every industry is ultimately susceptible to a disruption, stagnation, and becoming obsolete. As technology progresses or sudden events occur, many new opportunities will arise, while leaving many people behind who cannot change with the times.   For...

Sometimes creditors will receive post-dated checks that are generally between 10- 90 days beyond the date received. Whether a check can be deposited prior to the actual check date written depends on the: Amount - smaller amounts get deposited...

We often hear and read about ways to improve a company’s culture, but we often don’t realize the things that may be going on which are negatively impacting a company’s culture. Following below is my list (not totally comprehensive) of what I believe can nibble at...

The Great Resignation continues on with a new record number of workers, approximately 4.5 million, leaving the workforce  According to a recent global survey by Future Forum, 76% of workers want more flexibility about where...

Any one of these credit and collection goals is perfectly acceptable. If you try to do two or more, you’re really cooking! But perhaps just maintaining the status quo is also acceptable. Sometimes we create more problems for ourselves in trying to...

I suppose that at first blush, it makes more sense to send out your invoices by email. The time and cost to print-up and send these out, especially a large number of them, is neither efficient nor effective in comparison to sending by email. However,...

You may be asking, what on earth is a Zombie debt? Like the name implies, it’s an invoice or a debt for a personal charge that you thought was paid off but comes back to life to haunt you!   More specifically, Zombie debts include: debts you...