8 Best Practices for Creditors in a Customer Bankruptcy

By adopting the following set of best practices when a customer files for bankruptcy protection, AR and credit pros can adjust their department’s policies to fit the concrete circumstances and avoid unnecessary and costly errors. 1) Get involved early if you want to see any recovery.  If you wait until the first meeting of the creditors committee, all or most of the available collateral will already have been pledged to the bank. Pay close attention to flash reports notifying you of bankruptcy…