Congratulations to our July Industry Group Summer Sizzle Winner: Karl Teas from Anderson Brothers!
Getting to know your customer is one of the first steps to take when looking to extend credit or evaluate the risk of forming a new credit relationship. LexisNexis Risk Solutions is trying to make the initial phase easier for financial intuitions with two products: Business InstantID 2.0 and the Small Business Credit Score. These products are built to help lenders assess credit risk for small businesses with little to no credit history. Not having a credit history “makes it a challenge for financial institutions to use traditional methods to assess the credit risk in these millions of thin-or no-file businesses,” according to the news release from the company.
Extending credit is a gamble, especially in the agriculture industry.… Read the rest
Often all a creditor wishes for is to get a judgment against a debtor. But be careful what you wish for – that judgment may be worth nothing more than the paper it is on. Often the real work does not begin until after you get your judgment, when the hunt for assets begins.
Hopefully, before your attorney has even filed suit you have discussed the possibility that the debtor is “judgment proof,” meaning the debtor has no money. Once the judgment is obtained, there are ways to locate and go after such judgments. Often a creditor will have information about where a creditor banks or works. This is what collection attorneys consider low-hanging fruit, because it is not difficult to garnish either wages or a bank account.… Read the rest
It is no small endeavor to be recognized and awarded an NACM National award! It takes strong commitment, dedication, encouragement, persistence, and perseverance. Just ask Julie A. Anderson, CBF, CCRA of Stoneway Electric, who was awarded the 2017 CBF Designation of Excellence Award at NACM National Credit Congress in Dallas this past month. We interviewed Julie and asked her to share her experiences with our readers.
- Why do you think it’s important to have a certification as a credit manager?
I believe that having the certifications has helped me grow and gain respect and trust from my upper management as well as my co-workers. They see that I am invested in myself and my career and that I am always trying to learn more and keep up with the changes in the credit and finance field.… Read the rest
Video best watched in Full Screen.… Read the rest