http://creditmanagementassociation.org/forums/forum/ Sponsored by Credit Management Association en-US Tue, 07 Feb 2012 11:41:33 +0000 http://bbpress.org/?v=1.0.2 q http://creditmanagementassociation.org/forums/search.php http://creditmanagementassociation.org/forums/topic/319#post-1238 Sat, 04 Feb 2012 01:02:34 +0000 Susan Nakama 1238@http://creditmanagementassociation.org/forums/ <p>I know there are rules on the times of the day that collection calls can be made. Can someone provide me with the specific guidelines for the different time zones? Also, are the rules different for fax and email. Are there different rules for sending out statement with and without notes regarding past due invoices. For our business, it would be a B2B transactions. </p> http://creditmanagementassociation.org/forums/topic/317#post-1233 Thu, 02 Feb 2012 01:12:23 +0000 CreditMaestro 1233@http://creditmanagementassociation.org/forums/ <p>I have presently started a new job in the capacity of Order to Cash Manager which is a bleinding of Customer Service Manager and Credit/Collections Manager all under one umbrella. I was wondering if there was anyone else in the CMA community with the same title? </p> <p>Although we have similar concerns as a dedicated credit manager, the new objectives I have also include a strong sales/customer service component. i realize I am in the vanguard but is there anyone else out there who is wearing the same hats and thus encountering the same challenges?</p> <p>Thanks,<br /> Jerry Abramowitz, CCE </p> http://creditmanagementassociation.org/forums/topic/318#post-1235 Thu, 02 Feb 2012 18:34:31 +0000 Jamie Garett 1235@http://creditmanagementassociation.org/forums/ <p>Owner name on applicaiton does not match State Sales Tax. The name of the business and address matches, but not the owner. How do you handle this kind of situaton? </p> <p>The owner is matching on other forms of verification documents. </p> http://creditmanagementassociation.org/forums/topic/315#post-1225 Wed, 25 Jan 2012 21:50:43 +0000 Jamie Garett 1225@http://creditmanagementassociation.org/forums/ <p>How do you determine the credit worthiness of the Personal Guarantor if the person is not the same as the owner/applicant? </p> http://creditmanagementassociation.org/forums/topic/314#post-1222 Mon, 23 Jan 2012 19:24:35 +0000 Jamie Garett 1222@http://creditmanagementassociation.org/forums/ <p>Can anyone give me feedback on how their company updates their customer's credit application? </p> <p>Do you mail out an application with a cover letter? </p> <p>Any response would be helfpul.</p> <p>Thanks! </p> http://creditmanagementassociation.org/forums/topic/311#post-1215 Thu, 05 Jan 2012 21:33:40 +0000 Marcia Sisk 1215@http://creditmanagementassociation.org/forums/ <p>I am looking for best practice suggestions of setting AR monthly collection targets. We are a small publishing company with 150 employees, 3 full time collectors and a monthly AR aging that averages about 3500 outstanding transactions. In our current process a corporate $ target is set for amounts aged over 90 days and the target is systematically reduced each month. The formula for the target is somewhat arbitrary because we lack information about collection standards for businesses our size. We track DSO, CEI and some metrics at the individual collector level as well. </p> http://creditmanagementassociation.org/forums/topic/316#post-1228 Thu, 26 Jan 2012 00:17:56 +0000 PHIL TROP 1228@http://creditmanagementassociation.org/forums/ <p>Can anyone who works with collections in Europe share with me internal collection processes? </p> http://creditmanagementassociation.org/forums/topic/313#post-1221 Thu, 19 Jan 2012 18:37:08 +0000 Michael Dennis 1221@http://creditmanagementassociation.org/forums/ <p>Can anyone answer this question for me: If a Chapter 11 DIP converts to a Chapter 7, can the Chapter 7 debtor or trustee go after preference payments in the 90 days prior to the conversion from Ch 11 to Ch 7? Does anyone know for sure? </p> http://creditmanagementassociation.org/forums/topic/312#post-1219 Wed, 11 Jan 2012 16:19:13 +0000 Gordon Lundene 1219@http://creditmanagementassociation.org/forums/ <p>Since private equity companies tend to buy distressed companies, where are their preformance metrics found?<br /> Do these metrics factor into bad debt estimates, or portfolio risk reports? </p> http://creditmanagementassociation.org/forums/topic/309#post-1207 Fri, 16 Dec 2011 17:17:02 +0000 Gay Bramer 1207@http://creditmanagementassociation.org/forums/ <p>I have a fairly new small non-profit with only a credit card as a credit reference. It is a separate corporation from a larger non-profit. They do not have audited financials based upon the recent formation of the corp. What resources do credit managers use to make credit decisions regarding non-profits? </p> http://creditmanagementassociation.org/forums/topic/307#post-1204 Wed, 14 Dec 2011 21:04:17 +0000 Ashley Wexler 1204@http://creditmanagementassociation.org/forums/ <p>In creating a credit policy, under the section regarding bankruptcy, I have included the rights a creidtor DOES have when the debtor files, and was questioned on (right to stop all shipments in transit and arrange for the reutrn of those goods). It was noted that possibly since the product ships collect we would not have cause to stop the truck in transit-reason being the carrier is collect and vendor of the debtor, it was not our trucking line; therefore they would continue the delivery in order to recieve payment. Is this the case?</p> <p>My point was you could always advise the trucking company of their customer in bankruptcy and that provided they return the goods, we will submit payment on the spot-they get paid and we get our product returned. Would this work? Would you even need to offer this given the product is OURS even if shipped collect?</p> <p>Any thoughts would certainly bring insight-I found this debate interesting!</p> <p>Thanks,</p> <p>Ashley </p> http://creditmanagementassociation.org/forums/topic/302#post-1191 Fri, 02 Dec 2011 22:50:56 +0000 Michael Dennis 1191@http://creditmanagementassociation.org/forums/ <p>I am looking for new ways to monitor and manage credit risk. We currently use:</p> <p>Z Scores<br /> Bond Rating<br /> D&amp;B Ratings<br /> Paydex scores<br /> Frisk Risk Ratings<br /> Financial analysis including ratio analysis, trend analysis, and comparative analysis</p> <p>Any suggestions.... please</p> <p>Thank you</p> <p>Michael Dennis </p> http://creditmanagementassociation.org/forums/topic/304#post-1195 Thu, 08 Dec 2011 17:41:07 +0000 Gordon Lundene 1195@http://creditmanagementassociation.org/forums/ <p>1. Which software publishers provide ways of sending large volumes of invoices other than through the US Mail?<br /> 2. Are there changes in Electronic Funds Transfer that make it more attractive for smaller companies to use than the US Mail? </p> http://creditmanagementassociation.org/forums/topic/308#post-1205 Wed, 14 Dec 2011 21:59:21 +0000 LARRY CONVOY 1205@http://creditmanagementassociation.org/forums/ <p>A member has ask us to pose the following quesion.</p> <p>We are looking at possibly moving our credit application process online and wanted some feedback from you regarding this process. In particular, we are looking for challenges to this in the collection arena (if accounts don’t pay, what are your experiences and challenges from customers that use online credit applications).</p> <p>Will all jurisdictions accept an electronic application?</p> <p>Thank you </p> http://creditmanagementassociation.org/forums/topic/306#post-1203 Wed, 14 Dec 2011 17:07:57 +0000 F Scott Wilson 1203@http://creditmanagementassociation.org/forums/ <p>We just received a letter from a large corporation on a project we're furnishing materials on, instructing us and any other suppliers who have not yet been paid to provide a written demand to the corporation immediately. In addition, they want us to file any stop notices or lien claims right away, and give a specific project director and physical location to send all of these items to.</p> <p>The odd thing is that the project director states: "Please be advised that any persons who fail to serve a stop notice upon receiving this written demand shall automatically forfeit his or her right to a mechanic's lien in connection with the Project."</p> <p>I am not aware of any portion of lien law that allows an owner or general contractor to demand the filing of a stop notice or lien (though we sometimes get requests to do so). Also, I don't know of anything in *any* of the forty-odd State lien statutes I've dealt with that permits a property owner to mandate a time frame for responding, other than given in law, upon threat of forfeiture of lien or stop notice rights.</p> <p>Has anyone else seen this language from an owner or GC? Is this even a valid instruction, as it appears to fly in the face of existing lien laws? Or did the Project Director "spike" his coffee before writing this? </p>