Furniture Manufacturers Credit Association (FMCA) is more than just credit reporting and collections. FMCA is the premier community of credit professionals in the home furnishings industry.Continue reading "FMCA: PAST, PRESENT, AND FUTURE AS A CREDIT ASSOCIATION"
One of the many measures used to counteract the effects of the COVID-19 pandemic has been direct economic stimulus payments to millions of Americans. While the amount received by each person or family depended on variables like income level and number of dependents, the vast majority of Americans received multiple payments during the pandemic.Continue reading "How the Recent Stimulus Will Affect Furniture Retailers"
When you offer credit to a customer, the last thing you want is to eventually turn that customer over to a collection agency. Unfortunately, collections are an inevitable part of the commercial credit game, and some of your accounts are going to reach this endpoint from time to time. Working with a good collection agency […]Continue reading "Customary Business Practices for Turning a Debt over to a Collection Agency"
As a furniture manufacturer, offering furniture credit to your customers is a necessity. Retailers who want to sell your products are not always going to have the cash on hand to purchase inventory, so establishing credit terms can help all parties. Of course, this only works out when you make good credit decisions. If you […]Continue reading "Top 5 Ways NOT to Make Dumb Furniture Credit Decisions"
This article originally appeared in Business Credit magazine, a publication of the National Association of Credit Management. Trade creditors should take notice when any United States Court of Appeals rules on the applicability of a preference defense. Well, the United States Court of Appeals for the Third Circuit is no exception, particularly because the United […]Continue reading "Payment Pressure Can Be Hazardous to Your Ordinary Course of Business Preference Defense"