17 Types of Information We Uncover When Screening Potential ...
Commercial Credit Reports are a great tool for screening businesses, but they are also valuable when looking into individuals that you want to work with, such as:
Optimize Debt Recovery During Mortgage Enforcement with a Cr...
Sue McConnachie | Jul 28, 2017
Property owners don’t often default on mortgages, but when they do, you need to know which method of recovery will offer the greatest return.
There are four common remedies that are used if a mortgage goes into default.
A power of sale (POS) is the most common remedy when enforcing a mortgage. A POS often exists within the mortgage contract and allows the lender to sell the property and use the proceeds to pay any arrears.
When a POS is the chosen remedy, the mortgagor remains on the land title until the property is sold, any losses incurred from the sale are at the owner’s expense and if there is any extra money, after creditors have been paid, the owner is entitled to it.
If there is a deficiency, the mortgagee must collect from the mortgagor.
5 Ways That Commercial Credit Reports Can Help Your Company
Sue McConnachie | May 31, 2017
Commercial and Business Credit Reports are a valuable asset for many industries, including property management, automotive, franchising, legal, insurance and banking. But the value that credit reports offer businesses does not solely exist for these industries.
Why You Need Business to Business Credit Reporting
Sue McConnachie | Jan 27, 2017
We would never lend a large sum of money to someone without first determining whether they would be able to pay us back, yet on a regular basis we extend credit, directly or indirectly, to our many business partners.
When we offer clients terms that set the payment date after delivery of goods, when we pay a manufacturer, in advance, to deliver on a finished product or when we enter into a joint venture, believing that the other party will perform as promised, we are extending credit and putting our companies at risk.
That is why it is so important for companies, no matter the size, to obtain a credit report before entering into any business relationship.
