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Dec 01 2012
CreditWise Published by NACM Business Credit Services and ICEL
December 2012

In This Issue
- The 5 C's of Credit in Today's Economy
- ICEL Meeting Recap: Overcoming Adversity
- Optimism Can Change Your DSO
- Credit Managers Index (CMI)
- Collection Rut? Mix Things Up
- Enforcing a Judgment Across State Lines
- Spotlight: Douglas Darrington, CCE, Kilgore Companies

Looking Ahead

Dec 5 - Construction Bond Seminar: When and How to Use Construction Bonds to get paid. Instructor: Dana Farmer, Esq. More info

Dec 13 - ICEL Christmas Program - ICEL has chosen to support Candy Cane Corner again this year. Your donations of new unwrapped items for these families is appreciated. Cash donations are also welcome.
Candy Cane Corner 2012 Wish List

Jan 10 - ICEL "Surround Youself with Greatness" Speaker Chad Lewis

Jan 14 - Spring Semester Classes Begin
View schedule of classes

The CreditWise Newsletter invites NACM members to submit articles for upcoming issues. The articles should be based in business and credit management. Articles containing 350 words or more that are published are eligible for NACM Roadmap and CCE Recertification points.
Articles may be submitted to Georgette by email at

Why should I submit potential members to NACM?"

Help gain information on your customers. As a member, their information could help build the database on your customers. It's not just a one-way street. more Info



Want FREE Demand Letters in December OR a chance to WIN a
Kindle Fire?

Why not both!
NACM Business Credit Services is providing free demand service in December for members and, for each account placed into collection, you get a chance to win a Kindle Fire. More information  or call (801)433-6116

The 5 C's of Credit in Today's Economy

by ReBecca Poulsen, CCE, Henriksen/Butler Design

Jobless rate climbs. Tougher bank rules. Wall Street drops. Firms less optimistic . . . With headlines like these how are we ever to feel confident about extending credit to anyone?

Fortunately, the tried and true 5 C's of Credit are still valuable tools for evaluating a client for creditworthiness.

Character - For our existing clients that are looking for more credit, this is the most important of the 5 C's. How they have worked with us in the past in paying their invoices and responding to requests will impact our willingness to extend them more credit or modify their current payment terms. Read full article

ICEL Meeting Recap: 
Overcoming Adversity

by Janae Jeffs, CCE, Muir Enterprises

18 years ago Enid Greene Mickelsen was on top of the world; she was married, pregnant with her first child and had just won her 1st congressional seat for the State of Utah. Enid was appointed to the powerful House Rules Committee in Washington DC as a freshmen Representative. She was looking forward to helping the people of Utah for the next two years. One year later her whole world was yanked out from under her.

Ms. Mickelsen graciously came to the November ICEL meeting to talk about how you can survive adversity. Enid talked about 3 points on how to handle your life when the bottom falls out. Read full article

Optimism Can Change Your DSO

by Lisa Keller, CBA, Peck Striping, Inc.

If you Google "optimism," you'll get 98,600 results.

The definition given by Merriam-Webster is:

1: A doctrine that this world is the best possible world

2: An inclination to put the most favorable construction upon actions and events or to anticipate the best possible outcome

Spend any amount of time with a credit manager and I'd wager that you will find many of us are the "Glass Half Empty" type due mostly to the work that we do and the things we've seen. What would happen if rather than seeing the worst, we looked for the best? Read full article

The Credit Managers Index (CMI) is created from monthly surveys of U.S. credit and collections professionals. The survey rates factors such as sales, new credit applications, accounts placed for collections, dollar amount beyond terms - are higher than, lower than, or same as the previous month. The results reflect the entire cycle of commercial business transactions, providing an accurate, predictive benchmarking tool.

Sign up to receive monthly CMI reminders.

Collections Rut?
Mix Things Up

by Nina Flurer, CCE, H & E Equipment

Recently, I noticed that our receivables had plateaued. We had several accounts that were showing up on our aging day after day, week after week, and with no apparent progress. Since I know that doing the same thing, the same way, and expecting different results is the definition of insanity, I decided to try to mix things up. Instead of setting up new procedures or policies, all I did was to reassign which accounts were handled by my collectors. Sounds simple, right? Read full article

ICEL Chair Message
Enforcing a Judgment Across State Lines

by Shanna Smith, CCE, Easton Technical Products

You've been awarded a judgment against your debtor for the collection of the debt. Knowing that it is now your responsibility to collect that debt, you contact a collections attorney [editor's note: or NACM] to assist you in enforcing the judgment. But what happens if your debtor moves to another state or the property to be seized is located elsewhere? Do you lose your judgment? No, but there is a process you must go through to have the judgment be valid in another state. (Actually, before you can seize assets located in a different county of the same state, you must docket the judgment in that county. But that is more common and relatively easy.)

The Full Faith and Credit Clause of the U.S. Constitution compels a state to give another State's Judgment effect as if it were local. Read full article

Have the Motivation but Lack the Means?

The NACM Scholarship Foundation helps focused, worthy credit professionals meet their education goals. From December 1, 2012 to January 18, 2013, the Foundation will be accepting scholarship applications. Scholarships provide partial financial assistance of continuing education programs. Learn more today!


NACM National Board Election
By Allen Vickers, CCE, A & K Railroad Materials, Inc.

In our fast-paced environment that keeps us all so busy, sometimes we do not get to hear enough words of appreciation. Allow me to take a moment to say "Thank You” for your support during the recent election for a position on the NACM National Board of Directors.

Our Affiliate faced an uphill battle from the start as several other Affiliates had many more voting numbers so it was somewhat of a surprise to receive a call saying that I had been elected to represent you on the Board. The truth is, it was only possible through your efforts.

So again I want to express my sincere thanks for your efforts and support in allowing me to represent you, our Affiliate, and our profession on the Board. I not only welcome but I solicit your ideas on what makes NACM great and how to make it even better.

ICEL Spotlight:
Doug Darrington, CCE, Kilgore Companies

by Melissa Mickelsen, CBA, Geneva Rock Products, Inc.

Doug Darrington, CCE has dreamed of becoming a credit manager since he was a young boy growing up in Southern Idaho. Okay, so maybe that is not completely true. He actually wanted to be a brain surgeon, but credit was a close second. Doug has now been involved with credit off and on for almost 30 years. He currently works as the Credit Manager at Kilgore Companies, a position he has held since 2010 when Altaview Concrete merged with several other companies in the construction industry. Prior to working at Altaview, Doug worked for AchieveGlobal, Sinclair Oil Corporation and several other small, local businesses. He received his Bachelor's degree from Brigham Young University and an MBA from Utah State University.

In addition to working at Kilgore Companies, Doug teaches Financial Analysis I for NACM. Read full article