A Reference Book on Credit and Collection

This book is meant to help the new comer to the field of credit and collection understand the basic principles that govern credit and collection; The history of credit, the structure of companies, the legal system, the bankruptcy laws. It is also meant to help solve practical problems regarding collection and legal actions. It is reader friendly and concise.

This book is necessary at this time because literature on the subject is 30 to 50 years old and many legal statutes have changed. This book is written for those that do not have a degree in finance, accounting, credit and collection. It is meant for the beginner that is gaining on job experience but lacking in certain field that can be technical at times, especially the legal system. It covers a short history of credit and description of what is credit. It also covers the structure of companies and how it is related to credit and collection. We explain the legal system and its advantages and disadvantages. We look at the bankruptcy laws in Canada. We explain the collection aspect and related articles of law. We also help solve practical problems regarding collection of accounts receivables and cash flow increases. This a book for beginners who wish to improve their skills and knowledge. It is concise and describes real situations that have occurred between suppliers and debtors. It also tries to answer some of these problems that credit people experience continuously, such as a returned check, a closed commerce that has not paid the amounts owed and so on.

Yves Lamoureux was first introduced to the world of commercial credit and collection at a company called Consolidated Textiles. Mr. Lamoureux then decided to further his education at the university of Montreal in the 1970's. In 1980, M. Lamoureux was employed as a sales representative for the commercial collection department of Creditel. In 1986, he met a person that would be part of his life since that person not only became one of his closest friends but his partner in a new venture. Together, they opened a new and unique commercial collection service called NCCA. NCCA has been offering credit and collection services for the past 27 years and is still active today. The wealth of knowledge and experienced gained from doing the actual work of collection and credit evaluation has enabled NCCA to offer other related services such as outsourcing of accounts receivables and access to small claims court in North-America. A few years ago, customers were calling for help with credit or collection related problems that they felt were beyond their control. They would explain the problems and M. Lamoureux would work with them to solve them one by one. Many would ask if a reference book existed on credit and collection. None existed that were recent enough to take in the changes in our legal and financial structure. Those that were written dated back to 30 to 50 years ago. In 2010, M. Lamoureux decided to write a reference book which could act a guide to credit people who were new in the field of credit and collection. Although, he was in his sixties and still very much active in credit and collection, he took some of his spare time to write a book that new comers to the field of credit and collection could understand and use as a reference book since none exist at this time.