NACM Oregon Business Credit Journal - June 2011

NACM Oregon

June 2011

Business Credit Journal Myths and Misconceptions about Business-to-Business Collections

by Michael C. Dennis

Myths and Misconceptions... Cover

There are a number of myths and misconceptions about creditors’ duties, rights and responsibilities relating to business-to-business debt collection. Listed below are some of the more widely held misconceptions about the debt collection process: •

Myth: Businesses have the same rights as consumers in the debt collection process.

Reality: This statement is not untrue. For example, the Fair Debt Collection Practices Act does not cover the activities of collectors who work directly for the creditor company. The FDCPA regulates debt collection activities performed by third-party collection agencies.

•

Myth: It is illegal to request one of more post-dated checks.

In reality, it is not illegal or unethical for a collector to ask for post dated checks.

•

In This Issue

Myth: If a debtor is making partial payments, the creditor cannot place the account for collection.

Reality: A creditor company can place any delinquent account for collection at any time.

•

Myth: Creditors must respond to written proposals received from debtors relating to payment moratoriums or extended payment plans, and failing to do so can legally be interpreted as acceptance of the debtor’s proposal.

Reality: Silence does not mean acceptance… even if the correspondence the creditor receives states that failing to respond means the creditor accepts the debtor’s proposal.

Chair’s Message.........................3 President’s Message...................3 New Member Introductory..........4 International Corner...................5 Member Profile..........................6 Member Referral Rewards...........7 Employee Placement Service.......9 NOF Scholarship Funds............. 10 Education................................ 11 Webinars................................. 12 Contacts.................................. 15

• Myth: A creditor must give the debtor advanced notice before referring an account to a third-party collection agency or to an attorney.

Reality: Absent a contractual obligation to do so, creditors are not required to provide any advanced notice such as a Final Demand for Payment.

(Note: Most creditors provide advanced notice because it is in the creditor company’s best interest to do so. Why? Because some debtors will pay once they are notified that their account is being placed with a third party. ...continue on page 14

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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NACM Oregon

Business Credit Journal

June 2011

What if you still had everything you needed, only it was better?

Introducing Experian’sTM Business IQSM, , a new way to more efficiently determine how you manage your company’s day-to-day credit and collections decisions.

Taking BizAppsSM, into a new era, Business IQSM, features a stronger multi-tasking platform that is modular-based.

Keeping you and your team’s efficiency in mind, you’ll be able to more easily collaborate and manage your client-base all in one place. From creating task lists, to expanded search options, you’ll experience more online control of your customer accounts. You’ll have the ability to make more timely assessments on your customers while keeping your staff up-to-date.

We know how important it is for you to maintain your budget, and we are pleased to offer this unique upgrade at no additional cost!

Here’s a snapshot of some of the enhanced features availble through Business IQSM, : • Filtering and prioritization of high-risk customers for review by staff, and the ability to assign tasks to other users and attach notes to customers.

• Increased duration of credit report storage from 60 days to 90 days.

• Through Portfolio Analysis, you will have access to a history of businesses you’ve researched enabling you to quickly pull updated credit reports on the same customers.

• Ability to review a 90-day history of the credit reports pulled and who pulled them.

Popular features, including alerts, scoring and automated credit decisions, are now integrated within Business IQSM for an additional cost.

For more information, please contact Kristin Curtis at kcurtis@nacmoregon.org (866-674-1172) or Denise Redding at dredding@nacmoregon.org (866-359-1178).

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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NACM Oregon

Business Credit Journal

Message from the Chairman

This past month, I was part of the NACM Oregon delegation, attending the NACM Credit Congress in Nashville, Tennessee. NACM Oregon had a great representation. It was great to see new faces and first-time attendees as well as being reacquainted with familiar colleagues. NACM Oregon delegates enjoyed starting off the Congress Sunday evening with a wonderful steak dinner at the Old Hickory Steakhouse. This gave us an opportunity to be introduced and share the last years business experiences. It was great getting to know each of you who attended and I look forward to seeing you this next year at the various NACM functions.

The General and Super Sessions featured some excellent speakers. Tom Flick, a former Rose Bowl Champion, Pac-10 conference “Player of the Year” and an NFL Quarterback presented “At the Heart of Leadership. Tom has been called a “Success” coach and a change management specialist and is a highly sought-after speaker delivery guidance, clarity, and inspiration. Joe Calloway, a performance expert, presented “Becoming a Category of One” inspired by his best-selling book. Joe has earned worldwide attention for his expertise in developing customer-focused teams.

Both were intriguing, entertaining, and had the crowd engaged. Both were very motivational that set the tone for the educational sessions that followed.

This year’s Credit Congress had a lot of educational options. The first day started with 3-hour Executive Exchange Sessions. Each consisted of an experienced and seasoned panel. The topics covered: Building and Construction, Collections, Credit Management, International Credit, Legal Issues, and Performance Metrics. FCIB offered International sessions consisting of five separate 1 ½ hour sessions with country focus for Canada, Brazil, Chile, South Korea, and China. Each guest speaker was from their respective country and gave hands-on and inside country insight to credit management. Individual sessions covered a wide range of topics, so there was something for everyone. It was difficult to choose from all the options but overall the Credit Congress was a huge success. Next year NACM Credit Congress will be in Dallas Texas. I hope you will have an opportunity to attend.

For June, check out the NACM Oregon website. There are eight webinars this month and seven in July. Just a reminder that you were offered 2 Free webinars with your membership this year, so if you have not used them yet, please take some time to review the webinar list and sign up for your session. Free is good and you can participate from your office.

Enjoy the warm weather that summer is bringing us this month. Thank you for your continued support to NACM Oregon.

Raeann Binau, CICP Airgas - Norpac Inc raeann.binau@airgas.com

June 2011

Message from the President The NACM Trade

Credit Report was launched late last month at the Credit Congress. Are you tired of paying a premium price for credit reports with old, tired trade clearances on them? This database has more than 7,000,000 current lines of credit experience. To date, more than 20 Affiliates across the country are contributing. In the West, NACM Business Credit Services in Salt Lake City joined Portland, Spokane, Los Angeles, and Las Vegas as a contributor earlier this year, and San Diego and Denver come aboard this month. Next month, NACM Seattle will begin contributing to the database. We’re building a huge database of timely and accurate information! And, I know you will appreciate the pricing. Please contact your Account Executive or Customer Service to learn more about this.

Great new information resource! Join the Forum on the NACM Oregon website to get access to experts and information contributed by other NACM Oregon members.

Some changes at NACM Oregon . . .

Cheryl Wahlberg has joined the staff as an industry credit group secretary, and she’ll be visiting most of the groups in the next month or so. Please join me in welcoming Cheryl!

Clara Nemeth has joined the staff as a Collection Account Executive. If you need help with delinquent accounts, please give Clara a call (971.230.1144) to learn more about NACM Oregon collection services.

Rod Wheeland, CCE, CAE Direct: 971.230.1158 rwheeland@nacmoregon.org

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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NACM Oregon

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June 2011

New Member Introductory NACM Oregon extends a warm welcome to the following new members: Associated Business Systems

Oh Shoes, Inc.

Lori Weddle

Don Megrath

503.244.4800 16760 SW Upper Boones Ferry Rd., #200 Portland OR 97223

503.397.2154 4009 NW Devoto Lane Portland OR 97229

Associated Business Systems was founded in 1997 by Craig Knouf and three other industry veterans. The company quickly emerged as one of the leading provider of office equipment in the nation. ABS sells and services high-tech office machines (such as printers, copiers, fax machines, and scanners) made by companies such as ricoh, HP, and Kyocera Mita.

In 2008, ABS merged with Ricoh Americas Corporation, a 44-year-old U.S. company with headquarters in West Caldwell, New Jersey.

Associated Business Systems, A Ricoh Company, has grown to include thirteen branch locations in the northwest.

Bakersfield Pipe & Supply, Inc. Richard L. Place, Jr. 661.616.6067 PO Box 639 Bakersfield CA 93302-0639 Bakersfield Pipe & Supply, Inc., was founded in 1968 by Dwight Byrum and is headquartered in Bakersfield, California. The company has grown to become the largest independent supply company in the western United States by providing pipes, valves, and fittings for industrial, refining, oil field, and food processing industries. The company has locations throughout California, Nevada, Oregon, and Washington.

Oh Shoes is a Portland-based footwear merchant wholesaler established in 2003. Greg Van Gasse co-founded the company as a breakthrough collection of upscale women’s high heels using patented technology of athletic footwear with the aesthetics of an Italian designer.

In 2009, the company relaunched the brand and generated $1 million in sales, selling about a dozen styles in a handful of Nordstrom stores and online retailers such as Amazon.com and ShoeBuy.com. In 2010, it expanded distribution to major retailers such as Zappos.com.

Scotsco, Inc. April Bryant 503.353.0324 16750 SE Kens Ct. Milwuakie OR 97267

Kenna Larson

Scotsco, Inc., is a wholesale distributor in the outdoor power equipment industry.

Established in 1971, and headquartered in Milwaukie, Oregon, with a branch office and warehouse in Sacramento, California, cover Alaska, California, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington, Wyoming, and parts of Colorado and Arizona.

541.681.4195 PO Box 639 Eugene OR 97402

Wyse Kadish, LLP

Roofline Supply & Delivery

Roofline Supply & Delivery, a division of SRS, started servicing contractors and homeowners in the early 90’s with the primary business being focused on cedar shake delivers. Roofline’s business evolved with the times to encompass a full line of asphalt shingles to commercial roofing products servicing the entire state of Oregon and northern California.

Khristyn Greenidge 503-228-8448 621 SW Morrison St Portland OR Wyse Kadish LLP is the new name for Meyer & Wyse LLP. The firm was established in 1985 and has developed strong ties in the Portland community.

Their areas of practice include business planning, real estate, architectural and construction law, estate planning and administration, family law, employment law, general and complex civil litigation, mediation and alternative dispute resolution.

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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NACM Oregon

Business Credit Journal International Corner

by Alice Knight In May I spent 10 days in Costa Rica and El Salvador visiting cutomers with my manager of Latin American Sales and our local agents. I visit countries and customers for three main reasons.

1. To get a firsthand look at the economic and political climate of a country in order to set reasonable country credit limits.

2. To get a personal look at current and potential customers, their operations, customers, other suppliers and products. This is used to set customer credit limits.

3. To develop teamwork between sales and credit and to present a united front to our customers and agents.

After a challenging start, one-day weather delay in Dallas necessitating rescheduling of all flights, hotels, and customer visits, we finally arrived in San Jose, Costa Rica at 1 a.m. The last time I visited Costa Rica—10 years ago—it was a stable, growing economy with an expanding middle class. Customers were thriving and optimistic about future growth. This was in stark contrast to the current visit.

Costa Rica has been very hard hit by the economic downturn. Tourism was the most important industry and has suffered with the global recession.

There was heavy over building of vacation properties and there are areas near the coast with large projects half- finished and abandoned.

As a positive sign there were several large high rises under construction in San Jose. A 30-million dollar convention center was announced and

scheduled to open in 2014 and a new thermal power generation plant projected to provide 8% of the country’s total power needs was also announced during the visit.

Costa Rica has not had a border patrol along the Nicaraguan border.

After a recent spat concerning ownership of a small island they have legislated the founding and operation of a border patrol to enforce illegal immigration. This was a much discussed topic during our visit. Some estimates put 20% of the total population as Nicaraguan.

President Laura Chinchilla announced measures to promote foreign investment and business development although most of our customers did not feel that the current government was business friendly.

In general, most of our customers seemed to feel that business had stopped getting worse but had definitely not returned to the level of four years ago. A number of smaller businesses had closed but competition was still tight. Many concerns were expressed about the fluctuating currency.

Many customers were exporting to Nicaragua and Honduras and purchasing from all over the world. With internet technology even small companies have access to worldwide sourcing. Several of our newer customers have benefited from alliances or mergers with Columbian companies.

Printed telephone directories are still very popular in Costa Rica and Columbia. A disk for computer use is included with the printed telephone book and both are delivered by the local Red Cross for a small donation.

Many customers reported that commercial printing was down but

June 2011

high quality labels and packaging for medicines was up. Many of our customers have diversified into new product lines as the economy has changed.

It is amazing to see the changes technology has made in access to current worldwide information. Many of our customers asked my opinion on future currency fluctuations, worldwide gas and oil prices and worldwide paper production. Such discussions would have been restricted to our largest customers in the past.

Next month – El Salvador.

Alice Knight is Vice President of Finance & Administration for Paper Products Marketing, Inc. Ms. Knight has more than 45 years' of experience in International Finance and is an active member of ICTF and NACM. She has served as Co-chair, Panel Member and Presenter at Annual Global Conferences, as President of FCIB Forest Products Group, and participated in FCIB Conferences in Mexico, Puerto Rico, Munich, and Brussels.

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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NACM Oregon

Business Credit Journal Member Profile

June 2011

other employees— purchased the company.

Will Campbell President Standard Supply Co. In 1978, Will Campbelll was about to get married and thinking of starting a family. He was working on the swing shift at a company that built hay balers and though it was a good job, he felt that a daytime job would be a better fit with the approaching lifestyle change. He eventually took a job at Standard Supply, a local plumbing supply company that has been at the same East Portland location since it first opened its doors in 1931.

It didn’t take Will long to realize that longevity—for both the company and its employees—is one of the reasons Standard Supply has stayed successful in such a volatile industry.

In his first few days on the job, and doubtful about whether he would turn his new job into a career, a veteran on the sales desk made a prophetic comment, “You never know, one day you may own the company.”

Campbell remembered thinking to himself “Buddy, I ain’t gonna be here that long.”

It turns out that Campbell stuck around for quite a while. After years of working his way through the different “hats” at Standard Supply he was eventually selected for the hat of General Manager. Over the years he had learned the ins and outs of running a plumbing supply company.

So, when the owners of Standard Supply put the company up for sale six years ago, Campbell—along with two

With his management experience Campbell was the logical choice to take the reigns of the company. As General Manager he was familiar with the responsibility of the day-to-day operations of the company, but once he became President and part-owner, Will realized he was responsible for so much more. “It’s up to me, I have the ability to drive the direction of our destiny. That’s something that took a while to comprehend,” Campbell explains.

The driver-seat responsibility includes making the right financial decisions—both big and small. Though Campbell had some experience with credit management it wasn’t until he became President that he understood credit management’s importance and complexity. Though he is the one ultimately responsible for credit decisions, the management of credit has a collaborative feel at Standard. “Being a small company, we’ve never had a ‘credit department,’” says Campbell. Employees at Standard who work at both sales and collections develop a better relationship with the customer. They also develop skills like a better understanding of tactful communication.

The benefit to both sales team and customers is evident in the longevity of both. The staff at Standard has watched over the years as companies coming through their door transition into a second generation of ownership. And, though the hard times in construction have made credit management challenging, Campbell explains that successful resolution to those challenges can be a rewarding experience. “It is nice to see someone who is struggling get out of it and back in success.” continued on page 7

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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June 2011

Member Profile, continued from page 6 Along with their traditional business with contractors, public institutions, health care, and property management, Standard has seen some new faces that have come along with changes in the construction industry. “We’re the company that people come to when they can’t find what they need somewhere else,” explains Campbell. And it’s the expertise of Standard’s staff that reinforces that reputation every time a customer calls or walks in.

Campbell uses a recent example of a builder’s client who changed their mind about the plumbing fixtures they planned on installing. The project was already well on its way to completing yet delivery of the new fixtures would take eight to twelve weeks if ordered from the factory. When the builder called Tina Stofiel at Standard she didn’t tell them how long it would take, she asked them when they needed it by. That’s the difference at Standard, Will says, “We take the extra step of getting the customer what they need.”

Wondering how you’re going to take Accounting to earn your CBA?

Member Referral Rewards Is there another company that would

be a good addition to your industry credit group? Do you have a customer who is struggling to collect on its past-due accounts, or is having trouble making payments to you? Do you interact with other credit representatives who may be interested in professional development?

Every day you come in contact with businesses like this that could use NACM Oregon’s products and services. Whether a business needs access to credit reports, collection services, industry groups, or education, referring them to NACM Oregon is one of the best things you can do.

Introduction to Accounting, BA111, will be offered online from September 26, to December 17, 2011, through Portland Community College. This course will meet NACM National’s requirement for certification.

Course fees for residents are: $294.60 plus an additional book charge. New books are approximately $130.35, but be sure to look for used books, rentable books, or on Amazon for better pricing. If you request an “.edu” email address from PCC, you are eligible for student discounts on textbooks through Amazon.

Registration begins July 6, 2011. For more information, please contact Elizabeth Heintz at eheintz@nacmoregon.org, or 971.230.1120. For questions about registering at Portland Community College, please visit www.pcc.edu or call 971-722-8888 (and choose option 2).

Member Referral Rewards NACM Oregon rewards member representatives who refer businesses that become new members.

Prizes for referring new members are as follows:

First new member $100 Second new member $150 Third new member $200 The member representative with the most referrals for 2011 will receive $500.

In case of a tie, winners will split the award.

Ask your group secretary or call customer service for details at 971.230.1220.

New members and those who refer them are listed in each issue of the Business Credit Journal.

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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NACM Oregon

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June 2011

Check It Out! The NACM Trade Credit Report

© New Yorker Cartoon 2005 Robert Weber from cartoonbank.com. All Rights Reserved.

Get ready for the ...

2011 Pacific NW Credit Conference “Rainy Days and Credit Ways” S eptember 21 - 24, 2011 Doubletree Sui tes Tukwila, Washington

Don’t forget to take the opportunity to check out the NACM Trade Credit Report from the NACM National Database?

These business credit reports are compiled from payment data from accounts receivable records. They provide a credit score, present trade status, historical trending, past-due charting, flash information, and past inquires. This database, composed of contribution from 25 NACM Affiliates across the country, holds a substantial amount of credit experience, which is available to members through the NACM Trade Credit Report.

Every member receives 25 free reports as part of their membership package, so we encourage you to take advantage of this great opportunity.

We also offer an Unlimited Usage Contract for $1,975.

Contact Barbara Salazar at 971.230.1182 or bsalazar@nacmoregon.org to obtain a User ID and Password. If you have an existing User ID and Password for the industry group or collection site, you may use the same login. Go to www.nacmoregon.org/login. For more information on NACM Trade Credit Reports call Adam Tenuta at 971.230.1164.

For more information go to http://pnwcc2011.com/

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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June 2011

Employee Placement Service This networking tool is offered free of charge to NACM Oregon members. You may include your resume in our resource pool, or utilize it to fill an opening in your credit, accounting, or collection department. To participate in this program, please call Barbara Salazar at 971.230.1182 or 866.359.1182.

Position Open: Credit Analyst Full Time (Monday - Friday 8 a.m. - 5 p.m.; extra hours during month end) We are looking for an independent self-starter with a positive attitude to work in our credit department.

Accounting/Finance background preferred. MAS 500 experience preferred. Attitude more important than experience. $11 - $13 per hour, depending on experience. This is a family-owned business with deep roots in the Northwest for more than 100 years. The nature of the business is distribution and order fullfillment.

PRIMARY PURPOSE: Performs Accounts Receivable functions under the general supervision of the Credit Manager, including new account processing, customer service/ collection calls, posting checks, clerical support, account maintenance and special projects as needed.

•

Accounts receivable calls to existing customer base.

•

Customer maintenance of logins/ password on our website.

Seeking Position:

I am a self-motivated, forward thinking person who enjoys challenges. Seeking long-term employment where my abilities are • Reports to credit manager utilized to achieve internal objectives. delinquent accounts.

My background includes all phases of • Assists with month end invoicing credit/collection functions; correspond and statements. with sales departments and • Cross-train as appropriate to other customers; and financial state positions in the department. ment analysis. Please call Diana at • Additional responsibilities as 503.405.2018 or di08@hotmail.com. assigned.

Please send cover letter and resume to: Steven Amiel, Corp. Credit Manager stevea@edinw.com Direct: 503.412.6835 Phone: 503.226.4044 ext. 342 Fax: 503.226.2468

RESPONSIBILITIES: •

Setting up new accounts in customer maintenance.

•

Retrieving credit references, licenses, and credit reports.

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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2011 NACM-Oregon Foundation Scholarship Funds The NACM-Oregon Foundation grants scholarships to credit professionals for continuing education, professional designations, and conference expenses.

To apply for scholarship funds, or for more information, contact Lourdes (Lou) Rice, NOF Scholarship Committee Chair, Pacific Metal Company at 503.454.1051 or lrice@pacificmetal.com.

The categories are as follows: CFDD Credit Conferences— Pacific Northwest Credit Conference September 21-24 Tukwila, Washington Eight (8), $345 scholarships for the general membership.

Deadline: July 22, 2011 Phylliss Clark Scholarships Two (2) $345 scholarships.

Applicants must be a CFDD member of the respective chapter and a first-time attendee to the Pacific Northwest Credit Conference. Each CFDD Chapter—Portland and Salem/ Albany is allowed one scholarship funding.

Deadline: July 22, 2011 Early Registration Fee of $345

Phylliss Clark Memorial Fund The Phylliss Clark Memorial Fund was established in honor of the well-known and respected manager of the NACM Oregon education/communications department, who died in an auto accident Memorial Day weekend in 1993.

Because of Phylliss Clark’s strong interest in and commitment to education, and her dedicated service to NACM and CFDD, it was determined that a fitting memorial would be to establish an endowment in her name, the earnings of which would be used to promote education of deserving credit professionals. Each year, earnings from the endowment are distributed as scholarships to selected members of the three Oregon-area Credit & Financial Development Division (CFDD) chapters to offset registration and attendance costs to the Pacific Northwest Credit Conference. In selecting these yearly scholarship recipients, special recognition is given to first-time attendees of the conference.

Submit applications to: Lourdes (Lou) A. Rice NOF Scholarship Chair Pacific Metal Co., 10700 SW Manhasset Dr., Tualatin, Oregon 97062 p: 503.454.1051, f: 503.454.1065, e: lrice@pacificmetal.com

Professional Certification Fees To establish your file with NACM National; reimbursement of exams fees after a passing grade; recertifications (NOF pays for 50% of the fee)—$1,500 total.

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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June 2011

2011 Education Class Schedule Improving Collection Results

June 28, 2011, 8:30 a.m. - 4 p.m.

NACM Oregon Classroom CEU: .65 $195/member, $275/nonmember Speakers: Rod Wheeland, CCE, CAE, NACM Oregon and Brenda Terreault, JD, CBA, NACM Oregon International Business Day August 24, 2011, 8:30 a.m. - 4 p.m.

NACM Oregon Classroom CEU: .65, Course Level: I $169/member, $199/nonmember Certification Roadmap Introduction September 8, 2011, 11:30 a.m. - 1 p.m.

NACM Oregon Classroom FREE! Lunch included Speaker: Marilyn Rea, CCE, Pacific Architectural Wood Products Credit Management Bootcamp September 15, 8:30 a.m. - 4 p.m.

NACM Oregon Classroom CEU: .65, Course Level: C $195/member, $275/nonmember Speakers: Rod Wheeland, CCE, CAE, NACM Oregon and Brenda Terreault, JD, CBA, NACM Oregon

NACM Oregon Member Appreciation Breakfast October 26 2011, 7:30 - 9 a.m.

CEU: .15, Course Level: I Location TBD $35/member, $65/nonmember Educational Session: Economic Update Special Guest Speaker: John Mitchell, Economist

Other Activities Pacific Northwest Credit Conference September 21-24, 2011 Tukwila, WA Western Region Credit Conference October 5-7, 2011 Las Vegas, NV NACM Oregon Open House December 14, 2011, 4 - 7 p.m.

NACM Oregon Classroom

Course Levels C (core) – Classes that focus on credit concepts, techniques, and practical tips.

They are designed for the newer credit department employee and the more experienced credit professional looking for a review; I (intermediate) – Classes assume basic knowledge of credit concepts and address specific issues and approaches to resolution; A (advanced) – Classes that assume significant knowledge and experience and address complete topics of interest to credit and financial professionals.

Registration To register for on-site classes, please visit www.nacmoregon.org/events. Go to the current course schedule, then click on “view details” to register. If you have any questions regarding these classes, please call Elizabeth Heintz at 971.230.11820 or email eheintz@nacmoregon.org.

Principles of Accounting I, BA211 September 26 - December 17, 2011 Portland Community College Online $294.60 plus an additional book charge of $130.35 (new). Be sure to look for used or rentable books, or on Amazon.com for better pricing.

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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NACM Oregon

Business Credit Journal 2011 Business Credit Learning Webinars Linking Strategies to Budget June 21, 2011, 9 - 10 a.m. PT Phone Power Collections June 22, 2011, 9 - 10 a.m. PT Collecting International Past Dues June 23, 2011, 9 - 10 a.m. PT Writing & Reviewing Your Credit Policy June 28, 2011, 9 - 10 a.m. PT Certification Roadmap Introduction July 7, 2011, 9 - 10 a.m. PT Negotiation Techniques and the Collection Call July 8, 2011, 9 - 10 a.m. PT Leadership vs Managership July 12, 2011, 9 - 10 a.m. PT

Extending Credit in a Changing World: Euro-Zone, Japan, Middle East, etc.

July 13, 2011, 9 - 10 a.m. PT FACTA and the Red Flags July 14, 2011, 9 - 10 a.m. PT

June 2011

The Business Credit Learning Center Season Pass for $475!

Sue the Bums! A Guide to Cost-Effective Litigation July 15, 2011, 9 - 10 a.m. PT Ratio Analysis July 19, 2011, 9 - 10 a.m. PT Electronic Billing Strategies July 20, 2011, 2 - 3 p.m. EDT Coaching & Developing Your Team July 20, 2011, 12 - 1 p.m. PT Strategies of Effective Collections July 26, 2011, 9 - 10 a.m. PT Defending Bankruptcy Preference Claims July 26, 2011, 2 - 3 p.m. EDT

Webinar fee: $79 each - member; $109 each - nonmember Don’t have time to view the webinar “live?” You can still register and watch the webinar at your convenience as many times as you’d like for up to 60 days after the scheduled event!

No credit card? No problem! Simply logon to www.businesscreditlearningcenter.com to create your user profile and to read complete webinar descriptions. When you are finished, return to www.nacmoregon.org/events to signup for the webinar(s) of your choice and we will bill you on your next invoice!

If you have any questions on any of the webinars, call Elizabeth Heintz at 971.230.1120, or eheintz@nacmoregon.org.

Take advantage of ANY two webinars each member receives with their Basic Membership Package whether produced by NACM Oregon, CMA, or any other provider.

NACM Oregon is offering a Business Credit Learning Center Season Pass for $475.

That’s a savings of $2,053. This means the holder can register for any BCLC webinar at no additional charge.

The pass is not transferable, although it can be used by any employee of the member company. For more information contact your account executive at 503.257.0802.

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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June 2011

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Faster availability of funds – no more lock boxes or delays in depositing.

Safer because you’ll never see a bad check again – no more returned checks.

EASY TO USE: With Remote Deposit Capture (RDC), you simply insert the check into a scanning machine and it’s instantly deposited into your bank account. United TranzActions provides you with everything: a scanning machine, processing software and full reporting at your fingertips.

For over 14 years, UTA has been NACM’s preferred provider for: Credit Cards, Check Guarantee, Online Bill Pay, ACH Processing, EBPP, and Remote Deposit Capture with Guarantee. > The Right Service

Call UTA today and start improving your cash flow tomorrow.

> The Right Technology

NACM MEMBER BENEFITS • Lowers costs and improves funds availability • Reduces bank fees and lock box fees • Reduces fraud risk – no more returned checks • Allows for deposit of multiple checks at one time - 24/7 • Eliminates collection costs or fees • Provides real time reporting online - 24/7 • Historical data at your fingertips

> The Right Products

The right technology. The right products. The right price.

Just three more reasons why more NACM members choose UTA!

> The Right Price > RIGHT ON THE MONEY!

800.858.5256 ext. 3359 unitedtranzactions.com sales@unitedtranzactions.com

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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NACM Oregon

Business Credit Journal Myths...continued from cover •

Myth: Depositing one or more partial payments received from a delinquent debtor means the creditor has accepted the fact that the debtor will continue to clear the past-due balance with partial payments.

Reality: Unless the creditor has agreed in writing to accept any thing less than an immediate payment in full of the entire past-due balance, the creditor retains all of its rights even if a one or more partial payments are received and deposited.

•

Myth: Creditors cannot call debtors more than once a day.

Reality: Creditors cannot call continuously or so frequently that their calls are harassment. However, creditors can certainly call a customer more frequently than once a day. For example, it would not be unlawful or uncommon for a collector to call the A/P clerk, the A/P Supervisor, the A/P manager, the Controller and the Buyer on the same day in an effort to obtain a reasonable payment commitment—especially if there is an order on credit hold for that customer.

•

Myth: If you ignore collection problem for long enough, the problem eventually may go away.

Reality: This is actually true—but in this scenario the unpaid balance is more likely to be written off or credited off than paid by the debtor.

© 2011. Michael C. Dennis. All Rights Reserved. Mr. Dennis can be reached by email at: michaelcolindennis@gmail.com

June 2011

NACM National Bookstore The NACM Bookstore carries a comprehensive selection of books and resource materials to help the credit professional perform his or her job better. Click here to enter the NACM Bookstore.

Manual of Credit and Commercial Laws, 102nd Edition Price: $ 80 Plus S&H NACM presents an updated, comprehensive text covering the majority of legal topics that the credit professional encounters on a daily basis. The 102nd edition offers well-honed comprehensive coverage of legal issues as chosen and developed by leading experts in bankruptcy, collections, unclaimed property, and mechanic's liens and bonds rights-just to name some of the facets of this always useful publication.

To order, contact Barbara Salazar at 971.230.1182; 800.622.6985 ext. 182 or email to bsalazar@nacmoregon.org.

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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NACM Oregon

June 2011

Business Credit Journal Board of Directors Chairman Raeann Binau, CICP Airgas - Norpac, Inc. raeann.binau@airgas.com Vice Chair Kimi Shelton-Muller, CCE EKC Consulting, LLC kimimuller@comcast.net Secretary John Hardy Emerson Hardwood Co. jhardy@emersonhardwood.com Treasurer Marsha Johnson, CCE TEC Equipment, Inc. mjohnson@tectrucks.com Counselor Sue Hein Rapid Bind, Inc. sue@rapidbind.com

Directors Steve Amiel Electrical Distributing Inc./ BASCO stevea@edinw.com Linda Bishop, CCE, CICP Tektronix, Inc. linda.j.bishop@tek.com Will Campbell Standard Supply Co. willc@standardsupplyco.com Tony Ceniga Industrial Finishes & Systems t.ceniga@industrialfinishes.com Paula Cooley, CBA American Steel pcooley@american-steel.com Lori Jones, CCE Eoff Electric Supply Co. lori.jones@eoff.com Pat Swope, CCE, CICP Pacific Seafood Co., Inc. pswope@pacseafood.com President Rod Wheeland, CCE, CAE NACM Oregon rwheeland@nacmoregon.org

NACM Oregon Customer Service/ Credit Reporting 971.230.1220 services@nacmoregon.org

Industry Groups Richard Browning 971.230.1188 rbrowning@nacmoregon.org

Data Contribution Shannon Abnal 971.230.1166 sabnal@nacmoregon.org

Kristen McBride 971.230.1176 kmcbride@nacmoregon.org

Member Services Kristin Curtis 971.230.1172 kcurtis@nacmoregon.org

Collection Services Brenda Terreault 971.230.1196 bterreault@nacmoregon.org

Denise Redding 971.230.1178 dredding@nacmoregon.org

Billing Marmie Carpenter 971.230.1146 mcarpenter@nacmoregon.org

Collection Sales Clara Nemeth 971.230.1144 cnemeth@nacmoregon.org

Meeting Room Rental Elizabeth Heintz 971.230.1120 eheintz@nacmoregon.org

Education Elizabeth Heintz 971.230.1120 eheintz@nacmoregon.org

Newsletter Editor Barbara Salazar 971.230.1182 bsalazar@nacmoregon.org

7931 NE Halsey, Suite 200, Portland, Oregon 97213 Tel 503.257.0802 or 800.622.6985 • Fax 503.257.0247 • www.nacmoregon.org

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