Comments on: Protecting Your Business from Bankrupt Customers http://www.smbceo.com/2009/09/21/protecting-your-business-from-bankrupt-customers/ Resources and Knowledge for the Small Business CEO Thu, 18 Mar 2010 04:08:50 +0000 http://wordpress.org/?v=2.6.5 By: Ken Kaufman http://www.smbceo.com/2009/09/21/protecting-your-business-from-bankrupt-customers/#comment-8830 Ken Kaufman Wed, 14 Oct 2009 16:33:19 +0000 http://www.smbceo.com/?p=1880#comment-8830 Great tips. I would also add that of a customer is over 60 days past due and appears to be heading towards bankruptcy, you may want to offer them the option to create a note payable to you. That is the perfect opportunity to secure some collateral that you may seize should the customer default on the note. Since accounts receivables are generally not secured by anything other than a personal guarantee, if that, this is a great way to improve your likelihood of getting something, at least! Great tips. I would also add that of a customer is over 60 days past due and appears to be heading towards bankruptcy, you may want to offer them the option to create a note payable to you. That is the perfect opportunity to secure some collateral that you may seize should the customer default on the note. Since accounts receivables are generally not secured by anything other than a personal guarantee, if that, this is a great way to improve your likelihood of getting something, at least!

]]> By: Tony http://www.smbceo.com/2009/09/21/protecting-your-business-from-bankrupt-customers/#comment-8802 Tony Mon, 05 Oct 2009 21:49:58 +0000 http://www.smbceo.com/?p=1880#comment-8802 Great article. Not only is bankrupt customers an issue, but also slow paying customers. Great tips. Great article. Not only is bankrupt customers an issue, but also slow paying customers. Great tips.

]]> By: Arthur Bland http://www.smbceo.com/2009/09/21/protecting-your-business-from-bankrupt-customers/#comment-8761 Arthur Bland Mon, 28 Sep 2009 06:58:38 +0000 http://www.smbceo.com/?p=1880#comment-8761 Dan, I too have encountered that problem when I could no longer collect my receivables because the borrower goes bankrupt. It's really quiet difficult esp. if they have presented a good standing of cash budget before you approve their loans. :( - Arthur Dan,

I too have encountered that problem when I could no longer collect my receivables because the borrower goes bankrupt. It’s really quiet difficult esp. if they have presented a good standing of cash budget before you approve their loans. :(

- Arthur

]]> By: bizsugar.com http://www.smbceo.com/2009/09/21/protecting-your-business-from-bankrupt-customers/#comment-8760 bizsugar.com Mon, 28 Sep 2009 04:01:05 +0000 http://www.smbceo.com/?p=1880#comment-8760 <strong>Protecting Your Business from Bankrupt Customers...</strong> Many small businesses don’t have the time or resources to adequately monitor their own financial status, no less the ability to screen the finances of their partners, vendors, suppliers or customers. However, if SMB CEOs take away one thing from the ... Protecting Your Business from Bankrupt Customers…

Many small businesses don’t have the time or resources to adequately monitor their own financial status, no less the ability to screen the finances of their partners, vendors, suppliers or customers. However, if SMB CEOs take away one thing from the …

]]> By: Martin Lindeskog http://www.smbceo.com/2009/09/21/protecting-your-business-from-bankrupt-customers/#comment-8743 Martin Lindeskog Mon, 21 Sep 2009 12:00:42 +0000 http://www.smbceo.com/?p=1880#comment-8743 Dan Drechsel, Regarding your pont #3, could you give some tips on how to handle your account receivables? Could factoring be one alternative? Dan Drechsel,

Regarding your pont #3, could you give some tips on how to handle your account receivables? Could factoring be one alternative?

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