In the last economic downturn for your industry, did your bad debt increase materially? While on the surface, customers not paying may seem bad for business. It leads to lost revenue and potentially lost customers, which ultimately will hurt your bottom … Read More »
Everyone has creditors they would rather pay back before others (such as debts owed to family or friends), but if you pay back these creditors prior to filing for bankruptcy they could be considered preferential debt payments. This would allow … Read More »
A recent article in Forbes titled, The Hard Truth About Debt For Entrepreneurs gave insight into the concept of ‘good debt’ vs ‘bad debt’. The author comes right out and says there’s no such thing as good debt. But then … Read More »