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...

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What do you think? 

The answer to the above choices is probably that there is no one real choice. It depends on many factors that include: Size of the company and the role you playParameters and nature of your job responsibilitiesType and volume of business that the...

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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 is $121,703 as of January 29,...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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CMI Trivia Quiz

Which President held the position as a credit reporter during his lifetime? John Quincy Adams Abraham Lincoln Ulysses S. Grant Grover Cleveland William McKinley Jimmy Carter    Answer: You’ll be very surprised to learn that Abraham Lincoln, Ulysses S. Grant, Grover...

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Can We Talk?

It’s so nice to have customers you feel are good as gold. They’re the ones who’ve been with you for years — maybe even generations. They order on a regular basis, in large amounts, and always pay on time. They’ve contributed to your company’s long-term success and...

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CMI Trivia Quiz

In which country or kingdom was the concept of debits and credits formally established? China India England Persia Venice Egypt    Answer: Both India and Venice The concept of debits and credits as a financial transaction classification system was first used and...

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CMI’s Trivia Quiz

As recognized by the United Nations, there are currently 180 currencies across the world. Among all these currencies, how many countries do you think call their currency the "dollar?" 8 20 32 44 51 Answer: 20 The “Dollar" (symbol: $) is the name of 20 currencies,...

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