About a year ago, I wrote an article for Scrapbook Business magazine that seems very timely right now in light of the current situation with CK Media and its problems paying its creditors. The article was called Insuring Your Debtors: An Introduction to Receivables Insurance.
Basically, using receivables insurance, if you don’t get paid for a debt that you are owed, you can file an insurance claim and receive payment through that avenue. If you are owed money that you can’t afford to not receive, receivables insurance can provide you an important safety net.
The ABC’s of receivables insurance are laid out in my article with the help of Gene Goudy, a Senior VP of ARI Global, a brokerage firm which specializes in receivables insurance.
Given the current business climate in our industry, I thought it was important to bring this tool to everyone’s attention again.
Special thanks to Scrapbook Business magazine for granting me permission to redistribute the article through Scrapbook Update! If you’d like to learn more about Scrapbook Business, you can subscribe via their website or even read the Jan/Feb issue online for free!