A Business Creditor's Guide to Distressed Vendors, Debt Collection and Bankruptcy

One of the worst outcomes for a business owner is having a major customer file for bankruptcy and leave behind a large unpaid account receivable. Business owners are often left wondering, “What could I have done to prevent this?” The answer is to preplan for potentially distressed vendors and customers who may ultimately have to file for bankruptcy. A Business Creditor’s Guide to Distressed Vendors, Debt Collection and Bankruptcy provides an insider’s look into the options available to help screen a business’s customers, plan for worst-case scenarios, and, if the situation does arrive, efficiently handle the fallout. This book offers background and insight into such matters as why businesses fail, the Fair Debt Collection Practices Act and other statutes that affect a business’s relationship with its vendors, relevant chapters of the Bankruptcy Code that affect debt settlement, out-of-court alternatives to bankruptcy that might come into play, and several other concepts that business owners should be aware of when dealing with distressed vendors.