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Our Subscribers Say...
I think Credit Today is fantastic. You cover many practical topics in the credit field that I use regularly. Just one recent example—a conversation on the ListServ about preferential payments—gave me tips that I used in an actual case. The specific information I picked up from this one discussion saved me $10,000, enough to cover my membership for many years!
- Steve Savino
Manager of Credit & Collections, ASSA Abloy Americas Division, New Haven, CT
Credit Today's Resource Directory and their online e-mail forum (ListServ) provide information on almost any credit-related topic you can think of. It is a great way to exchange information with other credit professionals. As the saying goes, "You don't know what you don't know."
- Scott Goen,
Credit Manager, Big Lots Stores, Inc., Wholesale Division
"We've recently started using the ListServ tool within Credit Today. This is phenomenal and powerful forum for gaining immediate feedback, ideas, and suggestions, relative to any credit topic under the sun, all in a real-time e-mail format."
-Javier Vela, Senior Credit Manager, Global Credit Services, JDA Software Group Inc.
"Being a part of the Credit Today online community is like having the expertise of hundreds of credit managers at your fingertips. These credit execs are willing to help you solve topical business issues as they arise. In the current environment of ever increasing competing priorities which reduce our opportunities to meet peers out of the office face-to-face, this is the most valuable tool you can have on your desktop! It's important that we have a mechanism to reach out to our counterparts quickly to exchange knowledge as well as to stay on top of industry trends."
- Victoria Artis, Director of Customer Financial Services, Pfizer, Inc.
"Over the last 10 years I've seen Credit Today evolve from a monthly credit publication into a quality source of information and guidance for the B2B credit community. The website, with its user friendly form downloads, will take you from examples of new account credit applications to bankruptcy forms and everything in between.
The Credit Today ListServ has become the pre-imminent online forum, providing an opportunity for discussion and comments (and occasional humor) from an impressive list of credit professionals."
David Dungan, Director of Credit
Justin Brands, Inc. (A Berkshire Hathaway company)
Fort Worth, Texas
"There are numerous credit periodicals available to the credit professional today. How good is Credit Today? Is it relevant? I always have to read it late, or online because my credit analysts want to read it the minute it comes in. When my staff wants to read a publication before I have a chance to read it then something is working in that publication. We have cancelled our other subscriptions. When you have the best you do not need the rest."
Ron Woods
Corporate Credit Manager-World Wide
Thales Navigation, Inc.
"The newsletter, coupled with the website and the ListServ, are to us, more valuable than any other credit publication, bar none. I try to use at least one article out of each newsletter for departmental training/discussion sessions."
D. Mark Constantine
Corporate Credit Mgr
Fulton Paper Company
"I love Credit Today and read every issue cover to cover. For me, the greatest perk of a subscription is ListServ. I believe Credit Today's ListServ members may be the most knowledgeable Credit brain trust in existence today. I have saved and categorized hundreds of contributions on a wide variety of topics which I refer to often. It's an easy and cost effective way to network and learn."
Doug M. Thomas
Kimberly-Clark Customer Financial Services |
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New Bankruptcy Tracking Service Helps to Limit Losses
July 30, 2009
CSC launches service for financial institutions and other organizations
to monitor debtor bankruptcies. As the number of bankruptcies surge to record heights, banks and financial institutions are desperately searching for ways to protect themselves and suppress their losses. With Bankruptcy Tracker, the new service from Corporation Service Company, companies can now receive nearly-instant notification if one of their customers has filed for
bankruptcy. According to the American Bankruptcy Institute, the number of consumer bankruptcies reached the highest mark since the fall of 2005. In July alone, 126,434 bankruptcies were filed, representing a 34% increase over July of 2007 and an 8% increase over June's filings. It is no surprise that businesses are also failing at a record pace. In the first quarter, 14,319 businesses filed for bankruptcy protection, representing the most active quarter in more than 15 years. How can banks protect themselves from losses due to lack of knowledge about their customers' filing for bankruptcy? With CSC's new Bankruptcy Tracking service, banks can monitor their debtors and receive notification if one files in any bankruptcy court. When a bankruptcy is filed against a lender's debtor, CSC will send a prompt email alert with key information about the filing. With this information, banks can act quickly to ensure their losses are minimized or altogether prevented.
For example, without advance notice, a bank might continue to extend
credit to a bankrupt company. "When it comes to dealing with a debtor's bankruptcy, any delay in responding can be costly. Too often, notices of bankruptcy are not routed to the correct person in time to properly respond," said Mark Rosser Vice President with CSC. "With this new service from CSC, financial institutions can receive prompt notice of relevant bankruptcy filings. This advance notice enables them to respond to proof of claim filing and other deadlines, and to assertively monitor and protect their
interests." About CSC
Corporation Service Company, a privately owned service organization, provides matter management, corporate compliance, and trustee services for companies and law firms worldwide; domain name management and brand identity protection services for top global brands; and due diligence and transactional services for the world's largest financial institutions. Celebrating its 110th anniversary, CSC has more than 1,000 employees located throughout North America and Europe and is one of the largest registered agent service providers in the United States.
To learn more about CSC, please visit www.cscglobal.com .
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Outlook 2012
This month's survey explores...
- What the top problems are facing credit execs currently, and
- What the top improvement initiatives are.
Click here to participate!
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Webinars