Comments for The Factor Guru

Comment on The Sixth C: Common Sense by DB Squared

DB Squared — Fri, 09 Sep 2011 00:19:47 +0000

I can relate to red flag number three. Non-verbal signs are often more telling that the verbal. I wasn’t in attendance to hear the FBI agents talk, but have been to a similar discussions. One of my favorites was by Jan Hargrave, who wrote Judge the Jury. She talks about involuntary mannerisms and innate behaviors that are manifested when someone is not telling the truth. This is the first article of your that I have read, but thus far I am enjoying the read. Next stop, How to small a rat.

Comment on The Sixth C: Common Sense by Brian Center

Brian Center — Sun, 17 Jul 2011 13:45:24 +0000

Sound words of wisdom. A form of double talk can be the “complicated” talk which can be equally dangerous. If most of us are honest, at some point we have felt intimidated or just plain stupid when discussing a prospect’s business. You know… the business is highly technical and there are so many “moving parts” to the business and its process and how it all relates to generating revenue. Even the billing process is very intricate and complicated, etc, ect, etc. It easy to think.. “Wow, these folks (prospect) are so smart and this is so above my head… I don’t want to appear stupid and ask dumb questions….” Or you don’t want your peers or boss to think – “Man, he just does not get it…” Well a good fraudster is counting on all of us having that normal human reaction…. we all seek approval, acceptance and all want to be considered brilliant… Don’t listen to that voice… embrace your “stupidity”. Get comfortable with your uneasiness about being judged… who cares? So I am stupid and just don’t get it….. If it does not make sense, then it just does not make sense. If you can’t get your head around it and can’t understand, then be open about it… give someone – the prospect, peers, etc. a chance to explain. But after further explanations, if it does not click in your head… you’re out of there…. If it’s not spot on… time to move on….

Who knows… the stupidest person in the room just may be the smartest.

Comment on FAQs: Advance Rates, Dilution and Chargebacks by Darla

Darla — Thu, 02 Jun 2011 18:02:49 +0000

Well said Gen – I would like to add that there seems to be a growing trend amongst “good” recourse factors who instead of charging back an invoice simply because it has aged past a recourse period – or is otherwise short paid – will keep the invoice open as a way to track the performance of the invoice. If they simply charge it back it is possible that the diluted invoice becomes out of sight, out of mind. I like this trend as it brings a conservative approach to managing the factoring relationship.

Comment on FAQs: Advance Rates, Dilution and Chargebacks by Scott Smith

Scott Smith — Thu, 02 Jun 2011 14:13:10 +0000

Great article. My verification form mentions setoffs but not offsets. I added offset just to be safe. Here’s an article on the subject:

http://raymondpward.typepad.com/newlegalwriter/2006/08/it_is_setoff_or.html

Comment on Case Law Updates, a guest blog by Scot Pierce by Rebecca

Rebecca — Mon, 23 May 2011 09:45:27 +0000

Awesome piece, interesting stuff! I hadn’t even heard about this case before I read your article, but now I’ve been inspired to do some research of my own!

Comment on Case Law Updates, a guest blog by Scot Pierce by Cole Harmonson

Cole Harmonson — Sun, 22 May 2011 02:53:39 +0000

Great article, how much money was at stake for Yale? Didn’t the Yale guy die? Very interesting stuff !

Comment on Who Is Representing Your Client Before the IRS (And Why You Should Care)? ~ a guest blog by Jason Peckham by Darlene Friedman

Darlene Friedman — Thu, 07 Oct 2010 15:34:31 +0000

Good article about how the IRS collection process works.

Comment on Cross Border Financing. A guest blog by Elizabeth Hastings. by Courtney

Courtney — Mon, 04 Oct 2010 15:05:59 +0000

Great insight on foreign receivables financing. Thank you!

Comment on Keeping Your Old Friends by Kevina Scott

Kevina Scott — Thu, 02 Sep 2010 01:50:58 +0000

This is so true! Many times we give priority attention to the new business and forget that we must give the attention first to the ones already in our yard.

Comment on Keeping Your Old Friends by Stewart Chesters

Stewart Chesters — Thu, 02 Sep 2010 01:18:23 +0000

Very poignant especially when you consider the all in cost of acquiring new clients, keeping the good ones happy has a big bottom line impact. Plus all that good karma you get!