Sep 16, 2020

Posted by & filed under Credit.

Written and provided by HighRadius

The COVID crisis has shown that A/R and finance departments in the enterprise organizations can function successfully, even without the whole team (or parts of it) working from the office. While it is true that we have all gotten used to remote-working now, with the economy slowly opening, a lot of us might be returning to the office soon. In order to effectively plan this transition, while avoiding any knee-jerk reactions to your finance operations continuity, leaders today need a plan.

Here are ten actionable insights that HighRadius has collated from conversations with various industry experts and practitioners, that you should be following for success in the aftermath of the COVID crisis.… Read the rest

Sep 16, 2020

Posted by & filed under Credit.

COVID-19 is having a profound impact on millions of businesses and their customers, especially from a cashflow perspective. Many small businesses are having trouble meeting their payment obligations. These types of payment and cash flow challenges consequently highlight the need for lenders and business creditors to more effectively manage these risks. Based on the current economic environment, lenders and trade creditors need to take proactive steps to analyze exposure within their commercial portfolios, assess account-level performance, segment those accounts by
risk, and create a strategy to manage risks.

Common business challenges for today’s economic climate

  • — Before the current economic environment, lenders forecasted bad rates in their commercial portfolios based on past account performance and used traditional scoring in a less frequent cadence and focused on portfolio review.
Read the rest

Sep 17, 2020

Posted by & filed under Credit.

Shawna Kelly – Customer Service Representative
and Education Coordinator
Portland, OR

I’m Shawna and I have worked at NACM for a little over 12 years. I started with NACM as a Collection Intake Specialist and Skip Tracer but after a few years, I switched departments and now work as a Customer Service Representative and Education Coordinator. My favorite thing about working at NACM is the people! We have a great team here that makes coming to work enjoyable. I also love helping members with reports, questions and working with them to achieve their educational goals and earn their certifications!

My free time is spent with my two amazing kids and husband of 20+ years! I’ve spent years being a team mom for my son’s various sports teams and have also been my daughter’s Girl Scout troop leader for over 12 years.… Read the rest

Aug 20, 2020

Posted by & filed under Credit.

Register Today! Oct 14 – Dec 16, 2020

We are sad we can’t all be together this year in San Diego but we are excited to take the conference virtual this year. 

We are working on an amazing lineup of live and recorded sessions with some special surprises to make this virtual conference special. 

+  Live Opening Reception with Lunch, yes Lunch!
+ 20 Training Sessions
+  Expo Area
+  So Much More

There are 25 scholarships open for NACM CS members. Check out information on scholarships and download the form here.

For details on the conference go to: www.nacmwcc.orgRead the rest

Jul 27, 2020

Posted by & filed under Coronavirus, COVID-19, Credit.

NACM Commercial Service Members,

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

Jul 22, 2020

Posted by & filed under Bankruptcy, Credit.

Jonathan Friedland and Michael Brandess,[1] 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?

The Debtor

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

Jul 22, 2020

Posted by & filed under Coronavirus, COVID-19.

Navigating State Compliance Requirements in a Virtual World
David Brandon and Max Forer, Miller Nash Graham & Dunn

Although COVID-19 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