"Why Should You Take the Fall? A big client's bankruptcy shouldn't mean life or death for your business: Insure yourself with a UCC filing

Topics:
Bankruptcy
Tags:
Bankruptcy,
Business Operations,
Cash Flow,
Finance,
Litigation,
Operational Accounting
Source:
Entrepreneur Media

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Overview: "With the present accounting scandals and bankruptcies, entrepreneurs can face problems in cash flow which ultimately leads to bad debt. Fortunately, recent changes to the Uniform Commercial Code (UCC) makes it easier to protect yourself as both a creditor and a debtor. By making use of the UCC laws, and you could provide yourself with growth capital through improved cash flow and deeper credit. Using UCC filings to your advantage can stretch your credit with both banks and vendors. Likewise, keeping active UCC filings on your biggest customers can not only protect you against a client's nonpayment or bankruptcy but also help extra cash flow to your accounts receivable. "

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Format: HTML | Date: Nov 2002 | Pages: 1

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