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September 2011 Upcoming Events NACM-SE "CAP" Business Credit Principles Class Starts September 6th Barry Elms Advanced Collection and Negotiations September 14th
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Quote of the Day "Never miss a good chance to shut up." ~ Will Rogers Site of the Day "Bankrate, Inc. is the Web's leading aggregator of financial rate information, offering an unparalleled depth and breadth of rate data and financial content. Bankrate continually surveys approximately 4,800 financial institutions in all 50 states in order to provide clear, objective, and unbiased rates to consumers. Our flagship Web site, Bankrate.com, provides free rate information to consumers on more than 300 financial products, including mortgages, credit cards, new and used automobile loans, money market accounts, certificates of deposit, checking and ATM fees, home equity loans and online banking fees. " NACM - Credit Staffing ServicesNACM SE offers staffing services to its members for short and long term projects. Our consultants specialize in credit management, analysis and collections. All consultants are independent contractors paid directly by NACM. Consultants can be contracted, through NACM-SE, for as little as a couple of weeks to over a year. All consultants are experienced credit professionals ready to go on day one. This service is designed to assist members fill short to intermediate needs. For more information contact Todd Elliott 770-491-3313 NACM National Trade Credit ReportWhat’s the result of combining trade data from NACM locations across the country? 7 million relevant tradelines and 1 strong report – the NACM National Trade Credit Report. more NACM-SE Commercial Collection Services NACM SE offers professional commercial collection services, employing experienced commercial collectors. Over 100 years of continuous, effective and economical service to our members has resulted in a large volume agency. Because we are an affiliate of the largest network of commercial agencies in the country, you have the opportunity to employ a national agency, whose competitive rates enables members to obtain professional assistance to collect delinquent accounts earlier and therefore, more effectively. More Bernanke’s Awaited Speech More About the Known than the FutureThe highly anticipated speech by Federal Reserve Chairman Ben Bernanke at an annual symposium held in Jackson Hole, WY, yielded little in the way of new information. Instead, the chairman avoided the issue of another anticipated stimulus program (quantitative easing/QE III), played the part of cheerleader for long-term growth prospects and even needled a Congress, one that has been so critical of the Fed, over its woeful handling of the debt ceiling/budget debate. more
NACM-SE Business Credit ReportsThe NACM Business Credit Report database now includes accounts receivable contributions from over 10,000 companies throughout the country. The data is collected from monthly electronic contributions and industry credit groups. Over 7 million trade lines are now available. Individual reports can also be updated by contacting our credit reporting department. Business Credit Reports Available Through NACM-SE:
Fifth Circuit Reverses Panel Opinion on Asset ConcealingThe Fifth Circuit Court of Appeals overturned the decision of a three judge panel of the same court that would have disallowed a bankruptcy trustee from pursuing a judgment owned by a debtor, who concealed assets during the bankruptcy proceeding, based on the concept that the Chapter 7 trustee “steps into the shoes of the debtor.” The City of Arlington maintained that the debtor’s failure to disclose estopped the trustee from collection on the judgment. more
Best-in-Class Service from NACM's Mechanic's Lien and Bond Services (MLBS)MLBS' newly redesigned Lien Navigator is a web-based service that provides up-to-date information for all 50 states and Canada, including notice, lien, payment bond and suit timelines, procedures and other relevant information in a state-by-state/province-by-province format. MLBS also offers two preliminary notice to owner (NTO) services, deadline tracking, a lien and bond filing program and a suit against bond and foreclosure service. Both NTO services include, at no additional charge, a Next Action Notification Email. These reminders are sent automatically to ensure that your lien and suit deadlines are met during each step of the lien process. For more information on NACM's MLBS, click here.
Asian Economies, Despite Trade Prowess, Not Immune to the DownturnThe past several months has started to shake assumptions, based on Asian nations’ ability to develop more internal markets than in the past, made regarding immunity from the downturn. The latest set of slowdowns has really had an impact on South Korea, Taiwan, Australia, Thailand, Singapore, Malaysia and others. Even a member of the So-called BRICs Nations, India, has been shaken by these latest developments, as well. The short answer as to why these economies are feeling the pinch is that they are still far from being independent of the Western consumer. more
Have a position to fill? NACM-SE Career Services Can Help! NACM-SE's career services offers our members a site where positions can be posted free of charge. Registered users may also view resume of prospective candidates. A small fee is charged in the event the posting leads to the successful hiring of a candidate. A portion of the proceeds go to fund our scholarship program. For more details visit: www.nacm-se/career services Why Should You Earn Your Certification?When you apply to participate in the Professional Certification Program, you are on your way to demonstrating that you are among the best. You'll join a select group of individuals who have made the commitment to excellence in credit management, career advancement and an ongoing pursuit of knowledge. Throughout the process, you will be recognized for your achievements. More NACM-SE "Member-Get-a-Member" Program As part of NACM Southeast's continued initiative to expand the networking opportunities of its members, your Association has introduced the "Member-Get-A-Member" Program. Any representative of a current member company who refers a prospect company for general membership with NACM-SE or one of its sponsored industry credit groups, the referring individual will receive a $50.00 gift card. The award will be distributed upon the prospect joining and payment of appropriate dues. The referring company must be a member in good standing at the time the prospect joins NACM-SE. Member Get a Member For more information contact Todd Elliott. NACM-SE Credit Application Clearance ProgramWith many companies cutting staff, NACM-SE can be of assistance in the clearance of your new credit applications. Our program is designed to allow managers and analysts to dedicate their time and resources to more productive areas while allowing us to verify trade and bank references. You will also receive the benefit of trade information in our vast database. For more information on this program please contact us at: 770-491-3313 and ask for the credit reporting manager or email us at: nacm@nacm-se.com. Five Keys and Benefits of Outsourcing Past Due Receivables to NACM-SE:Any company, large or small, that extends credit usually has some amount of receivables owed from slow paying or non-paying customers. The fact that not all customers pay, or pay on time, is reflected in balance sheets under the description bad debt or other receivables. Aging receivables can be managed internally or by outsourcing to NACM-SE. More NACM-SE Scholarship Fund NACM-SE is now accepting applications for 2011 scholarships. Please visit the link below for further information on the scholarship program and to apply. As part of our commitment to continued educational offerings to our members, the NACM-SE scholarship program was created to allow those credit professionals who otherwise would be unable to attend continuing educational programs an opportunity to apply for scholarships. If your organization is interested in supporting the scholarship program in the form of a donation to the NACM-SE scholarship fund please contact Todd Elliott at 770-491-3313 x 309. To be considered for future scholarships please visit: http://www.nacm-se.com/scholarship.asp. NACM's Credit Manager's Index (CMI) The Credit Manager's Index (CMI) is created from a monthly survey of credit and collection professionals. The CMI survey asks NACM members to rate favorable and unfavorable factors in their monthly business cycle. Favorable factors include sales, new credit applications, dollar collections, and amount of credit extended. Unfavorable factors include rejections of credit applications, accounts placed for collections, dollar amounts of receivables beyond terms, and filings for bankruptcies. The results provide a benchmarking and forecasting tool that looks at the entire cycle of commercial business transactions. The CMI has gained rapid acceptance among the business and financial community as an economic indicator to both watch and on which to report. Member participation in this survey is both welcome and encouraged, and takes less than five minutes each month! However, it is an ongoing monthly commitment. Go here to view the most recent data: Current Credit Manager's Index Report NACM-SE programs and services are designed to meet the needs of all levels within member company's credit and financial operations. Please let us know the names and contact information for all individuals within your organization who would benefit from NACM programs and services and we will include them in future distributions. Submit to: nacm@nacm-se.com or contact Todd Elliott at ext. 309 for more information. 303 Research Dr. NW, Suite 200, Norcross, GA 30092 Phone: 770-491-3313 Fax: 770-939-3096 |
