by Nancy Seiverd | Apr 11, 2022 | Uncategorized
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 you draw up, should...
by Nancy Seiverd | Mar 8, 2022 | Uncategorized
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...
by Nancy Seiverd | Mar 8, 2022 | Uncategorized
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...
by Nancy Seiverd | Feb 7, 2022 | Uncategorized
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...
by Nancy Seiverd | Feb 7, 2022 | Uncategorized
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 they work, and 93%...
by Nancy Seiverd | Jan 4, 2022 | Uncategorized
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 reinvent the wheel....
by Nancy Seiverd | Nov 9, 2021 | Uncategorized
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, there are times...
by Nancy Seiverd | Oct 4, 2021 | Uncategorized
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 have already settled...
by Nancy Seiverd | Sep 8, 2021 | Uncategorized
It’s frustrating when payment agreements are not upheld but it’s also important to recognize that as a company struggles to make good on the obligation, at least a payment agreement usually shows initial good faith. Here are my thoughts about when adjustments and...
by Nancy Seiverd | Aug 9, 2021 | Uncategorized
This is an age-old credit and collection question and one that doesn’t often have a one size fits all answer. Some creditors might stand by their customer’s difficulty and try to help them out in depth because of the long-term relationship, which was a key...
by Nancy Seiverd | Jul 14, 2021 | Uncategorized
When we hear the term, “statistics,” we might be taken aback a little bit because it conjures up highly sophisticated mathematics — something we’re not always so comfortable with. However, almost every day we come face to face with simple statistics such as: The...
by Nancy Seiverd | Jun 8, 2021 | Uncategorized
Whether sales should be involved in collections is still one of the most difficult balancing acts around. As a rule of thumb, salespeople should be aware of their customer’s payment status. Depending on the reason for the past due situation, giving them the...
by Nancy Seiverd | May 4, 2021 | Uncategorized
I’ve been hearing from some credit professionals informing me they have been assigned to take over another department, letting me know who to contact in the future. Depending on the size, product or service, and other factors, a few of the credit professionals have...
by Nancy Seiverd | Apr 6, 2021 | Uncategorized
The answer to the above choices is probably that there is no one real choice. It depends on many factors that include: Size of the company and the role you playParameters and nature of your job responsibilitiesType and volume of business that the company doesCompany...
by Nancy Seiverd | Mar 9, 2021 | Uncategorized
What’s the range of the average salary for a credit risk manager in the U.S.? $60K – $80K$80K – $100K$100K – $120KOver $120K According to the website, Salary.com, the average Credit Risk Manager salary in the United States...
by Nancy Seiverd | Feb 8, 2021 | Uncategorized
How valuable would it be to serve on the Committee of Unsecured Creditors? ExtremelySomewhat Not so muchNot at all With bankruptcy filings up by more than 25% during this past year, and surely with many more to come in the near future, an increasing number...
by Nancy Seiverd | Jan 11, 2021 | Uncategorized
How valuable is an MBA these days? ExtremelySomewhat Not so muchNot at all I read an interesting article recently on whether or not a Master’s in Business degree is really as lucrative or as educational as it used to be. Certainly, there’s always great...
by Nancy Seiverd | Nov 10, 2020 | Uncategorized
In 2019, what was the average per capital consumption of turkey in the U.S.? 5.5 pounds11.2 pounds16.1 pounds7.8 pounds21.3 pounds Today’s consumer recognizes turkey’s nutritional value and enjoys turkey year-round – not just during the holidays. The turkey...
by Nancy Seiverd | Oct 13, 2020 | Uncategorized
Which financial ratio is the most important to you in analyzing financial statements? Working Capital RatioQuick Ratio Gross Margin PercentageProfit Margin PercentageInventory Turnover Rate We credit professionals are finding that in these tough times it...
by Nancy Seiverd | Sep 9, 2020 | Uncategorized
How much can a company save per year when letting an employee work from home? $3,000$6,500$7,500$9,000$11,000 According to current data compiled and published by the marketing firm, Review42, $11,000 is how much companies can save annually for each employee that...
