Debt Hibernation Feature

CreditWorks Notifications feature now includes a Debt Hibernation option.

If you have given your customer a debt hibernation during this difficult post-Covid19 time, please be sure to register it on our system, so other clients can take this in to account when making credit assessments on the customer. Please go to the Tools/Notifications option on the menu bar to complete the notification.

Please remember to notify also, when the Debt Hibernation ceases.

Debtor Risk Details Report

Following on from last weeks exciting release of the Debtor Risk Spread Report (see item below) many of you have asked the question; “How can I tell which of my debtors are in each band?” In other words, who are the customers that pose the most risk to me? In answer to this question, we have just released the latest addition to our portfolio of reports – the Debtor Risk Details report. Just go to the Reports section on the menu bar when you log in, and you will see this on the side bar.

Or better still! Go in to the Debtor Risk Spread Report (located in the same place) and once you have identified the bands you would like expanded upon, you will find a link under the second graph to this report.

Please note: this new report has extensive detail about the customer, including intellectual property such as the customers individual score, therefore there is a cost attached. The detail around this is on the page.

With reference to Anne Gibson’s’ article in the NZ Herald (April 3: ) titled “'Most Dangerous Time' in Construction Cycle: Warning”, the article contains a summary section titled “How Builders and subcontractors can minimise risk.” I find this section quite interesting and pertinent, although the source (Staples Rodway) do overlook one of the most important ...

As per the announcement on 3 April, the Government is moving to safeguard businesses from insolvency with 'safe harbour' legislation for directors’ liabilities and a business debt hibernation regime. Practically, the business debt hibernation regime will see company directors seeking agreement from their creditors to ‘hibernate’ from their debt – more than half of the ...

Following on from our Market Analysis Report https://www.creditworks.co.nz/uncategorized/debt-risk-market-analysis-reports/ CreditWorks is now excited to add our latest report to the portfolio – the Debtor Risk Spread report. See samples: Existing clients of CreditWorks can now log in to their account and see, free of charge, what level of risk their ledger poses to them. The latest ...

Updated: August 12, 2020, for the June Quarter First and foremost, we hope you are all well and are coping with this new environment we find ourselves in. The world has changed significantly -and in many ways forever – however it is in times like these that good old Kiwi resilience comes to the fore. ...

We’ve been working with a partner that specialises in Data Analytics to create a reliable, statistically sound, predictive scoring model.  Now, we can look at a company, look at the data in our massive database (and from external sources) that fits that company’s profile, and predict how likely that company is to fail in the ...

If you are doing business in New Zealand, or are planning to, then you might seriously want to consider taking advantage of the Personal Properties Security Register and searching their database. The PPSR is a government initiative and is a Personal Property Securities Registrar. It can be used for businesses to record their security interests ...

“PPSR” – perhaps you have heard the term but don’t really know what it means or how it can benefit your business. If so, then this guide may help you; we’ll go through what the PPSR is, what it does and just why it matters to you as a business owner. Jump To: Just what ...

Most of us have heard of the term “credit score”, but did you know there are different credit ratings for personal and business? In this post we’re going to be taking a brief look at “commercial credit scores”, discovering exactly what they are and how it can positively or negatively impact the ability of your ...

A question for all business owners: how many of you know your company’s business credit score? If you can’t answer that question, then you have plenty of company. If you answered “What’s a business credit score?” you’ve also got plenty of company. According to research, 60% of small and medium-sized business owners don’t know their ...

There has recently been a focus on getting NZBN information into PPSR Financing Statements.  We’ve noticed many of our clients have taken this opportunity to review their Financing Statement portfolios and get some housekeeping done.  Some clients have discharged many old Financing Statements they no longer need, others have updated Collateral details across the board. ...