Don't Be Blindsided by Bankruptcy

A recent AR&O2C study found more than half – 56 percent – of the respondents had a customer who was not seriously delinquent file for bankruptcy. Some 52 percent reported they had been "surprised" by a bankruptcy. Sound familiar? According to the American Bankruptcy Institute and Bankruptcy Data.com, in the second quarter of 2011 bankruptcy filings totaled 12,304 and of those, 22 were public companies. As the chart below illustrates, bankruptcies rose during the economic downturn in 2009…