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Our Subscribers Say...
"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
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Kimberly-Clark Customer Financial Services
"As a corporate credit manager with over two decades of experience, I consider Credit Today to be one of the best credit newsletters. Whether it is because of Credit Today's management, its distinguished panel of advisors, or the caliber of Credit Today's subscribers, it would be fair to say that some of the best and brightest minds in our profession are represented. The credit issues, technologies, news, credit department profiles, etc. are interesting and useful. Credit Today is a valuable reference and communications tool which I look forward to reading each month."
Paul Brunner
Corporate Credit Manager
Mitsubishi Electric Automation, Inc. |
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Bankruptcy Resources For Credit Managers
Here we've compiled a resource center on bankruptcy issues for trade credit managers - everything you'll need to know to face that unfortunate occurrence.
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Two Great Sources of Bankruptcy Info
Gathering Intelligence on Bankruptcies How do you keep up with bankruptcies? As a credit exec, it's critically important to be on top of the latest filings in your customer base, and many get . . . keep reading
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US Bankruptcy Code Sec 503(b)(9)
April 27, 2009
Intended Benefit to Creditors Illusory at Best In 2005, the U.S. Bankruptcy Code was amended by the Bankruptcy Abuse Prevention and Consumer Protection Act (BACPA). At that time, an important section (Section 503(b)(9)) was added with the presumed intention of improving protection for a certain class of creditors. Unfortunately, that protection has failed to materialize. . . . keep reading
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Working With Distressed Customers
Some customers need help, know they need it and ask for it. Others go into denial until they're beyond help. This year you may face the dual challenge of figuring out how to help the first group and how to prevent losses with the second. Here we talk with two experts who have long experience in working successfully with distressed credit customers. . . . keep reading
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"Protect Your Interests"
In a recent discussion on Credit Today's ListServ (our email-based forum), a member detailed a situation that is all-too-common these days. After numerous attempts to collect a past-due balance, he was just notified by the customer that their bank had just called the loan that day and his contact advised that a receiver would likely be appointed by end of week." His contact went on to suggest that he take appropriate measures to protect his interests. So, he asked the List's 'Brain Trust,' . . . keep reading
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Want to Sell a 26-year-old Bankruptcy Claim?
March 20, 2009
Has anyone heard of American Arbitrage Inc.? I have received offers to purchase our claim in a bankruptcy case-a case that dates back to 1983. The offer is not unusual, just the age of the case. The purchase price offered is miniscule, but what amazes me is the fact that the bankruptcy is 26 years old. Does anyone have any idea as to what value this firm could be looking at? This case dates back prior to my joining L&P by two years, but everything I heard about this case "way back when" indicated that it had been discharged. Just curious if anyone had encountered something along these lines. . . . keep reading
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An Officer of the Company "Alerted" Me About Their Impending Receivership. What Can I Do?
March 11, 2009
Although I likely know the answer to this question, however, here goes. After numerous collection attempts on a past-due balance, I have just been notified by the customer that their bank has just called the loan today and my contact advised that a receiver would likely be appointed by end of week. He went on to suggest I take appropriate measures to protect my interests. Being an unsecured creditor, what measure can be taken in advance of a pending "receivership" only days away? I have never been "alerted" to an impending receivership, especially by an officer of the company, so I wanted to see if I had any options available on such short notice. Unfortunately, the most effective option would be a pending order that I could use as leverage, however, no pending orders, etc. . . . keep reading
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Sources for Bankruptcy Stats?
February 18, 2009
I am giving a talk to some sales people and need some facts, graphs on bankruptcy and different stats on what types of businesses have been affected the most or least. Credit Today may have some stats. Are there any other sources? . . . keep reading
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Defending Yourself from 'Defensive' DIPs
Time was when DIP actually meant Debtor-in-Possession financing, money made available to get a distressed company through a Chapter 11 workout. Now, when it's available at all, it's most often defensi . . . keep reading
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Proofs of Claim: Hot Topics and Filer Beware!
By Diane P. Furr & Lisa P. Sumner
Preparing and filing a Proof of Claim is not always as simple as one might think considering that the form is a simple one page document with instructions attached. However, there are potential pitfalls involved in preparing and filing a Proof of Claim. Creditors who fall victim to these pitfalls have been the subject of unpleasant surprises in recent bankruptcy cases. Be sure to file where directed: Proofs of Claim generally are filed with the Clerk of Court in the district and division of the bankruptcy court where the debtor's bankruptcy is filed. Often in large Chapter 11 cases, though, claims are directed . . . keep reading
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