Article Abstract:
William R. Mapother's guideline for creditors for handling debtors that are filing for bankruptcy has achieved great success despite criticisms and apprehensions by some credit companies. The dominant concern of Mapother's strategy focuses on unsecured credit because this is the area where lenders are most vulnerable. When reviewing and evaluating unsecured bankruptcy accounts, the consultant separates Chapter 7 and Chapter 13 filings. The former is then classified into three classes: good, bad and fraudulent. Under Mapother's credit program, good Chapter 7 debtors who willingly repay their debt incurred before bankruptcy filing are guaranteed credits in the future. On the other hand, Mapother encouraged the pursuit of fraudulent accounts putting in mind to limit expenditure on legal fees. Despite fears of legal risks and financial loss, Mapother's strategy has gained widespread approval as a result of its success.
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Article Abstract:
The International Credit Assn (ICA) and the more than 100,000 other associations that serve particular constituent groups offer social and economic benefits not only to its members but to every member of society. They help set professional, performance, safety and ethical standards; educate the public about products and services; develop and disseminate information that is used by such groups as regulators, policymakers, researchers and consumer groups; ensure political representation of private interests; and mobilize huge amounts of volunteer labor. For their members, associations help meet needs that cannot be met satisfactorily through individual action, communicate important information, and form a collective presence in the marketplace. The future plans of the ICA are discussed.
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Article Abstract:
Many young people are not prepared to properly manage their credit. Therefore, individuals should be taught early in life about personal financial management. The International Credit Assn. (ICA) strives to do just that with its National Credit Education Week (NCEW), which falls on Apr. 20 to 26, 1997. One event to be held during the NCEW is the creative writing contest to be participated in by high school students. This provides them an opportunity to assess their futures. In celebration of the NCEW, local ICA associations and the credit community in general will offer programs and materials, hold special events and credit fairs, put posters at businesses and public buildings, and stage presentations at school.
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