In seven pages the social importance of a credit manager is examined in terms of difficult economic conditions and mounting consumer debt. Six sources are cited in the bibliography.
Name of Research Paper File: CC6_KScreditMgmt.rtf
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consumer debt in many of the worlds developed nations have the experts wondering what really is happening. Frequently, those individuals who appear to be good credit risks show themselves
not to be at all, while others that appear to carry far more risk are found in reality to be trustworthy and dedicated to the concept of repaying their debts.
Research has been quite sparse, with only a few marginally applicable articles to be found in academic economic journals. Much of the
information now available is found in what amounts to the popular press of finance: publications such as Money and Business Week. Regardless of the reasons for the dearth
of empirical study, the fact remains that debt it rising and so are defaults. It is the job of the corporate credit manager to collect on as many credit
accounts as possible, with the goal being that of ensuring that 100 percent of those accounts are paid. The Role of the
Credit Manager That generally does not occur, of course, but there are changes within the realm of consumer credit that may perhaps make
the credit managers job somewhat easier in the future. The credit management function does not always have control over the organizations credit-extending policies, though it does have to deal
with the results of decisions that it would have rendered in reverse at times. With personal bankruptcies running at close to an all-time
high in the US, Seiberg (1997) reports that at that time, "More than 5% of consumers who eliminate their debts in Chapter 7 have the ability to completely repay creditors