NACM-National has been carefully tracking all legislation related to COVID-19 that will impact business credit. There are a pair of bills in Congress that would greatly impact collections efforts for members across the country if the bills are passed and signed into law.
Although we appreciate that public-policymakers have tried to make sure citizens can pay their bills, make housing payments and feed their family, we must not go too far and allow businesses to be harmed or detrimentally shift accountabilities.
Recent Congressional proposals include language in a Senate bill (S. 3565) and drafted language in a Democratic COVID-19 relief bill (H.R. 6379) that would impact debt collection. The timing of restrictions and the definition of “debt collector,” as currently drafted, would include all NACM members.… Read the rest
Jonathan Friedland and Michael Brandess, partners with the Sugar Law Firm
If you’re reading this article, then you are
surely somewhat familiar with chapter 11 bankruptcy. In fact, you might deal
with attorneys who do what we do (i.e. represent trade creditors and official
committees of unsecured creditors) with some frequency. Still, with the tsunami of business
bankruptcy filings really just beginning, the editors thought it timely to
provide a little refresher.
So, as you find yourself following a customer
into its chapter 11, who else is in the game?
Even though Chapter 11 cases are heard by a
bankruptcy judge, sitting in a
bankruptcy court, a bankruptcy case is not a lawsuit.… Read the rest
Navigating State Compliance Requirements in a Virtual World David Brandon and Max Forer, Miller Nash Graham & Dunn
had been circulating for months, its impact wasn’t felt by many Americans until
shelter-in-place orders went into effect in mid-March 2020. Some of the initial
effects of these shelter-in-place and remote work orders were somewhat
baffling–toilet paper shortages, for example–as Americans adjusted to the “new
normal.” The delayed effects of the continued COVID crisis can be equally
baffling, but for entirely different reasons. As the COVID crisis continues,
the business landscape is changing. The remote location of workers, and by
extension, consumers and businesses, has raised new questions for when
businesses must register to do business, submit to the jurisdiction of courts,
and pay taxes in new states.… Read the rest
What are industry group members talking about these days? You guessed it. Covid-19. The economy. How their firms are coping. How they are coping. What it feels like to be a credit manager in the midst of a pandemic and financial disaster. One member described it as feeling like a hamster on a wheel, running and running without getting anywhere, chasing the elusive dollar. Many members tell me they feel like they are busier than ever – addressing customer demands for extended terms or special accommodations, dealing with issues inside their own company related to the crisis, and coping with incredible personal challenges of working from home or being the one holding down the fort in the office.… Read the rest
If you have been using Internet Explorer to access your NACM reports or as your internet browser now may be the time to break up and move on to another option.
Microsoft is retiring Internet Explorer. If you use, I.E., you’ve probably noticed pop-ups at lots of different websites warning you that they will no longer be supporting it. Microsoft will no longer be releasing major updates for Internet Explorer, which may leave it with security vulnerabilities or a disparity in supported functionality.
We want to make sure our members have the best experience possible, which led NACM to the decision to remove support for Internet Explorer.
While we’re going to make sure to give our customers ample time to make a switch, we encourage switching to one of the below browsers as soon as possible:
My position here at NACM Commercial Services is Account Executive and has been for the last 35 years, but I actually started working for NACM when I was 16 during my holiday and summer breaks being that my mom had worked there as well.
I am currently working and covering the Los Angeles and Northern California Territories and couldn’t love it more. For as many years that I have worked for NACM, it never gets old, and I am always learning something new. The members are probably my favorite part of the job because they challenge me to dig deeper into finding them the best resources that will allow them to do business better.… Read the rest
As we speak with hundreds of business executives, there are two primary thoughts that seem to be on the top of their minds. They want to know what the economic recovery curve looks like for the next year and what the prospects of a worse, Wave 2 of the virus this fall are. Of course, these go hand in hand.
Almost laughingly, there are so many different types of recovery curves being mentioned. We have the V, delayed V, U, elongated U, hockey stick, W, M, Swoosh, and just this week, the Z (although that was largely a joke). When we compile economist’s viewpoints from around the world coupled with virologist predictions, we can see a predominant leading scenario jumping to the forefront.… Read the rest