What do you think?

How often do you use statistics to analyze your work?Never - not even sure what they areOn occasion - just the basic measurements Sometimes - we find them useful for improving our operationAlways - they help us immensely in understanding all aspects of our business...

What do you think?

At what point should Sales get involved in a collection situation?Never - as they usually give in to unfounded excusesAs necessary - when you as the credit/collection professional are trying to resolve a dispute against the product or serviceFrequently - as we work in...

What do you think?

Does it help or hurt one’s credit career when being assigned to a different position within the company? Very helpfulSomewhat helpfulNot helpful at allPossibly detrimentalChoose I’ve been hearing from some credit professionals informing me they have been assigned to...

Beware of Nicknames on a Credit Application

Over the years when we receive claims, I’m always delighted to see a signed credit application attached and completely filled out. As we know full well, the credit application is the initial contractual document by which the terms and conditions are established. It...

When a Family Member Becomes Our Debtor

Dear Crabby, I’m glad there’s someone like you to talk to right now because I have a touchy problem at work and I’m not sure how to manage this delicately. First, a little background. We’re a small business of about thirty employees with a long history in our...

What do you think? 

What's the most important thing for you when doing your credit & collection job?Collecting a large outstanding account.Helping sales to get the new client.Making sure you stay motivated.Keeping a tight lid on past due accounts.Working with past due accounts...

What do you think? 

What’s the range of the average salary for a credit risk manager in the U.S.? $60K – $80K$80K – $100K$100K – $120KOver $120K According to the website, Salary.com, the average Credit Risk Manager salary in the United States...

Life After Credit & Collections

I periodically speak to credit and collection professionals who are heading towards retirement and wondering, “What do I do now with my life?” For starters, the longer we credit professionals work in our field, the deeper and more diverse our expertise...

What do you think? 

How valuable would it be to serve on the Committee of Unsecured Creditors? ExtremelySomewhat  Not so muchNot at all With bankruptcy filings up by more than 25% during this past year, and surely with many more to come in the near future, an increasing number...

Take a Guess!

In 2019, what was the average per capital consumption of turkey in the U.S.? 5.5 pounds11.2 pounds16.1 pounds7.8 pounds21.3 pounds  Today’s consumer recognizes turkey’s nutritional value and enjoys turkey year-round – not just during the holidays. The turkey...

What are your thoughts?

Which financial ratio is the most important to you in analyzing financial statements? Working Capital RatioQuick Ratio Gross Margin PercentageProfit Margin PercentageInventory Turnover Rate We credit professionals are finding that in these tough times it...

What are your thoughts?

How much can a company save per year when letting an employee work from home? $3,000$6,500$7,500$9,000$11,000 According to current data compiled and published by the marketing firm, Review42, $11,000 is how much companies can save annually for each employee that...

What are your thoughts?

Are Americans’ Credit Card Balances: • Increasing • Decreasing • Staying about the same According to current data from the Federal Reserve) revolving credit debt has declined for the third month in a row. Specifically, revolving credit debt dropped to $995 billion in...

Are Personal Guarantees Making a Comeback?

Not to sound cliché, but extraordinary times call for extraordinary measures. With the economy struggling, and even customers that we thought were “built to last” experiencing tight budgets and cash flow problems, we never know who the next serious past due account...

What are your thoughts?

Which sectors are on target to surge during this pandemic? Light Consumer ManufacturingHeavy Equipment ManufacturingAgricultureGamblingRetail Alcohol Beverage To say the COVID-19 pandemic and its ensuing lockdown have caused a considerable hole in the world’s...

The Post Pandemic Credit Manager’s Role

Like many of you, I’m taking several deep breaths as the business community carefully moves forward from a self-imposed 2-3 month hibernation. Stepping out carefully to adhere to the working normal, we are grateful for still being able to fully support our clients for...

What are your thoughts?

Off the top of your head, how much do you think the U.S. National Debt is?  ​ $6 trillion$10 trillion$15 trillion$19 trillion$26 trillion Answer: As of May 2020, the National Debt reached a whopping $25.75 trillion! Given that the national debt has...

When the Going Gets Tough….

In these trying and emotional times, when our lives have been horribly disrupted by health and financial challenges, we still need to get up every day and do things to retain some semblance of normalcy. Some of what we do may be new and refreshing, and other...

Dear Crabby — I’m Bored!

Dear Crabby, As the credit manager at a small tools manufacturing and distribution company of 50 employees, we’ve been closed since April 1st and it looks like we’re going to be closed for the rest of May. Fortunately, during this time our company has continued to pay...

What Are Your Thoughts?

 How long will it take for the U.S. economy to recover from the Corona virus shutdown?  6 months1 year2 years5 yearsAnyone’s guess If you ask 100 economists when the U.S. economy will recover, you may very well get 100 opinions. With unemployment numbers...

Your Health Is Our Utmost Concern

For the month of March 2020, I was planning on sending out our regular newsletter but in view of the Coronavirus pandemic, I thought it would be more appropriate to address this issue with some thoughts and ideas for your consideration. The first thing I...