Bankruptcy Filings Continue to Rise. Leverage These Strategies to Minimize Exposure and Maximize Recoveries (VIDEO)
In this must-see episode of "Credit Where Due," Robin Szabo and Sandi Henderson of Szabo Associates offer strategies for creditors to mitigate potential damages in the face of increasing bankruptcies in the healthcare, industrial, financial, technology, and energy sectors. Szabo emphasizes the importance of monitoring customer payment habits, setting credit limits, and staying informed about customer industries, while also stressing the need to focus on high-revenue customers and promptly investigate any changes in payment habits.
Henderson outlines the essential steps for creditors when encountering bankruptcy cases, including understanding the type of bankruptcy, reviewing, and preserving documents, and monitoring notices for actionable items. Their discussion includes the dynamics of bankruptcy cases, the challenges businesses may encounter, and the significance of proactive measures and expert guidance in navigating bankruptcy situations.
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