Whitepaper | Handbook for all your daily credit management challenges 

On Guard

The handbook for all your daily credit management challenges. In this handbook, we discuss the three main credit management challenges and give practical tips to ensure a financially healthy organisation.

Power up your ERP for flexible credit management

On Guard

An Enterprise Resource Planning (ERP) system is a powerful tool for credit management and most companies, of all sizes, are now implementing ERP, according to a recent report. Instead, specialist credit management software can be used in tandem to enhance existing systems.

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Breaking BAD | A day in the life of an Onguard Collections Agent

On Guard

According to the CICM, the most important report for any credit manager is the Aged Debt report. Set Credit scoring system to support Breaking BAD collection strategy and rules by which customers are moved to different workflows e.g. Low, Med, High risk based on 30/60/90+ aged.

Customers are more likely to default on invoices now due to pandemic-related cash flow problems

On Guard

Only 35% use specialist credit management software to automate processes, with the remainder relying on ERP systems or not having a dedicated system for debtor management. Therefore, an efficient and automated debtor process would be beneficial. “We

Risk & Reward: A Collection Agent’s Point of View

The Kaplan Group

When trying to decide what the riskier or safer course of action is, we consider not only the amount of money owed, but also the specific debtor company and management, the business sector and the economy in general. Risk and Reward are the two sides of almost every business deal.

The only certainty is uncertainty – by Sue Chapple FCICM

CICM

Certainly some early CICM research suggests trouble ahead, and the impact will be shared with equal pain by debtors and creditors alike. One thing we also know with certainty: we have to get the economy going again, and credit teams will play a critical role in choosing who to extend credit to, and understanding the risks attached, even though those risks will become increasingly difficult to determine. 2 July 2020.

District Court Rules “Informational Injury” Sufficient to Confer Article III Standing

Consumer Financial Services Law

5, 2019), the defendants Midland Funding, LLC, Midland Credit Management, Inc. The letter also informed Navarroli that the law limited how long he could be sued for the debt and how long a debt can be reported to a credit bureau, and went on to state that due to the age of the debt at issue, Midland would “not sue [Navarroli] for it or report payment or non-payment of it to a credit bureau.” Only the rarest consumer-debtor will recognize this danger.”

Cash Flow during COVID

Debt Recoveries

Slow paying debtors means more cash is locked-up preventing you from using it to pay your own bills and staff; this is normally the biggest contributor to poor cash flow. Debtors paying sooner will create a faster flow of cash so you can reduce your borrowings, or fund growth more easily. Accept payment via as many channels as possible, ensure you have EFT (electronic funds transfer), take credit cards, cash, cheques, etc. Do you have a credit application form?

Personal Guarantees in Commercial Collection: How Helpful Are They?

The McHughes Law Firm

It is a prudent credit manager that attempts to obtain personal guarantees from the principals of an incorporated entity to which credit is being extended. A guarantee of payment is a far more effective tool , as it allows a creditor to proceed directly against the guarantor without the necessity of taking any action against the primary obligor [debtor]. Future extension of credit by the supplier to the purchaser is the most obvious example of consideration.

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 3: Commercial Mortgage Default Options Including Acceleration and Enforcement of Personal Guaranties

Jimerson Firm

Goldome Realty Credit Corp., 1st DCA 1989) , the First District Court of Appeal adopted the majority rule that the specification of the amount of credit to be extended, in the absence of expression of a contrary intent, only limits the guarantor’s liability and does not create a condition.

Avoiding Overshadowing Claims

FDCPA Defense

Southern Oregon Credit Servs, Inc. , 1989) (“The statute is not satisfied merely by inclusion of the required debt validation notice; the notice Congress required must be conveyed effectively to the debtor. It must be large enough to be easily read and sufficiently prominent to be noticed – even by the least sophisticated debtor. A GOOD CREDIT RATING--IS YOUR MOST VALUABLE ASSET.”); compare Terran v. Midland Credit Management, Inc.,