Tag: Business Credit Law

When a customer is too indebted to reorganize and rebuild, they may execute a general assignment for the benefit of creditors (ABC), a mechanism where the customer (the “assignor”) assigns its assets to an assignee, typically for the purpose of liquidating the assignor’s business. This method of liquidating (whether through a wind-down process or, in certain instances, a going-concern sale) avoids the potential unpredictability and cost associated with a bankruptcy filing.

One of the most important yet sometimes scary aspects of B2B credit management is business and credit law. Petrifying scenarios, like major clients filing for bankruptcy, can leave even the most seasoned credit professionals frozen in terror. By earning the Certified Business Fellow (CBF) designation through NACM’s six-level Professional Certification Program, credit professionals can stand fearless in the face of business and credit law. 

“I want to show that I am dedicated to my job and that I have plans to continue developing and growing as a professional in the credit industry,” said Cristal Gonzalez, CBF, credit analyst at Mueller, Inc. (Ballinger, TX).

🎙️On today’s episode of Extra Credit…The credit department aims to maximize safe sales, requiring tough decisions. Denying credit is a last resort but sometimes essential.