Everything related to the mortgage and housing sector has been deemed tainted. The only bright side to the ailing US marketplace is that with the weak dollar, exports have risen to epic heights. International business is booming and has been the main crutch that has kept the nation from falling into a formal recession. Unfortunately, with both consumers and corporations over-extending themselves and capital drying up, it's prime time for repo men and collection agencies in the US. The problem with the current economic situation is that many credit managers, either because their companies are struggling and they are looking to avoid paying a collection fee or sales is overriding credit's decisions, continue to provide leeway to debtors and continue to wait before turning to help. An economic bounceback is still unlikely until 2010. For creditors, the onus is on being proactive in the months to come.
Briefcase Full of Blues Matthew Carr Business Credit; Nov/Dec 2008; 110, 10; Docstoc pg. 26 Reproduced with permission
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