Jun 8, 2016

Posted by & filed under Business Credit Journal, Technology.

The partnership between UTA and NACM truly adds value to your company. Check out any of UTA’s leading-edge utaproducts to appreciate the quality and savings that UTA provides. Products include: Automated A/R Service, Credit Card Merchant Services, Check Guarantee, Remote Deposit Capture, Electronic Bill Presentment & Payment, ACH Processing, Canadian ACH, and Online Bill Pay.

For 40 years, Vantiv’s team of committed professionals has made Vantiv into one of the most trusted and respected organizations in the payment processing industry. Vantiv has driven many of the changes that prompted vantiv logo'the shift from cash to electronic payments, and that innovative spirit continues to be their strength. They are innovators, thought leaders, and boundary pushers. Vantiv is changing the face of payments.… Read the rest

Jun 8, 2016

Posted by & filed under Business Credit Journal, Credit, Technology.

For multinational companies, automation allows a business to standardize each process, such as
invoicing, cash applications, disputes, and collections. Since many countries possess varying business
practices and currencies, technology can serve as a means to better streamline the global business to
business (B2B) partnership. Automation is the driver of increased value, effectiveness, and efficiency,
providing the ability to eliminate manual tasks and allow a company to focus resources on other, more
important assignments, explained Jay Tchakarov, associate vice president of marketing for HighRadius

“The value of automation, when you look at the day-to-day manual tasks that a team performs, 80-90%
of those can be fully automated,” Tchakarov said. “That means the resources can be focused and this is
what drives real improvement in KPI [key performance indicator]—things like DSO [days sales
outstanding] reduction and reduction of bad debt.… Read the rest

May 17, 2016

Posted by & filed under Credit.

CMI Be Apart of the Process Header










Since its inception, the CMI has been a startlingly accurate economic predictor, proving its worth most notably during the recession.

The CMI is created from a monthly survey of U.S. credit and collections professionals. The survey asks participants to rate whether factors in their monthly business cycle are higher than, lower than, or the same as the previous month. The results reflect the entire cycle of commercial business transactions, providing an accurate, predictive benchmarking tool.

Your participation helps to make the CMI as accurate as possible. Every time you participate in the CMI’s monthly survey, you are contributing to a leading economic indicator.

Taking the survey is quick and easy!… Read the rest

May 13, 2016

Posted by & filed under Credit.

By: David Conaway, Partner, Bankruptcy Practice Administrator, Shumaker, Loop & Kendrick, LLP

The purpose of a sales contract is to define the parties’ obligations and to optimize outcome if a dispute arises. As such, a contract is a tool to manage risk and prevent loss. The good news is the vast majority of contracts are performed as planned, and no issues arise. The bad news is when issues arise, they can be costly, eroding or eliminating the anticipated profits, or causing loss from the transactions.

In particular, sales contracts for the sale of goods are based on Article 2 of the Uniform Commercial Code, which has been adopted by every U.S. state. When disputes have arisen, U.S.… Read the rest

May 13, 2016

Posted by & filed under Credit.

Federal Trade Commission Consumer Protection Resources……

FCRA – Fair Credit Reporting Act

Federal Government legislation enacted to promote the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies.


FACTA – Fair & Accurate Credit Transaction Act

FACTA is an amendment to FCRA (Fair Credit Reporting Act ) that was added, primarily, to protect consumers from identity theft. The Act stipulates requirements for information privacy, accuracy and disposal and limits the ways consumer information can be shared. Details include:

  • The three major credit reporting agencies are required to provide consumers’ credit reports to the consumer, without charge.
  • Consumers can place an alert message on their files if they suspect they have been victims of fraud.
Read the rest

May 13, 2016

Posted by & filed under Credit.

The risks and uncertainties associated with true mechanic’s lien litigation in addition to the legal costs typically make a settlement of 75% or 85% of a claim a “good settlement.”

Essentially, you are litigating multiple cases simultaneously. In fact, most mechanic’s lien lawsuits have multiple counts. There’s a basic contract case in which you must prove your “statement of account,” that you supplied labor and material in accordance with the contract, without defects and on time. It is usually good practice to plead an unjust enrichment or quantum meruit count in the alternative.

You must also prove your mechanic’s lien, your last day of work and that you filed the lien on time. Then you need to prove that the lien identifies the correct property and property owner and that you have all necessary parties in the lawsuit.… Read the rest

May 13, 2016

Posted by & filed under Credit.

References are an important tool in determining creditworthiness and should be included on any credit application. It is important to note, however, that the references listed on a credit application are probably not the most important references with whom to speak.

A debtor will likely list the people who will report positive information. You need to speak with neutral references that are willing to tell you the good and the bad about the customer.

Follow up on references provided on application forms as well as from other sources. Credit networking groups and salespeople can help achieve this goal. Sales staff often has opportunities to chat with customers about common acquaintances. Call some of the people mentioned and discuss the customer.… Read the rest