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New Report Offers Regional Assessment on Commercial Delinquencies

April 16th, 2009

Monitordaily.com

Cortera, a provider of collections and credit insight for commercial enterprises, has released their most recent data assessing the overall economic health of a region based on how well companies are paying their suppliers.

In its analysis, the company said there are some indications that the economy may be flattening out from the sharp declines experienced in past reports.

Cortera’s database tracks 18 million public and private companies in the United States based on thousands of trade payment contributors and contains over $250 billion in accounts receivable information.

Among the findings:

• Virginia and Michigan moved into the Top 10 Worst States list;
• Mississippi and Oklahoma moved into the Top 10 Best States list;
• Alabama witnessed the highest percent past-due increase (45% month over month) which dropped them off the Top 10 Best States list;
• South Carolina improved the most over the last 3 months with a 24% drop in percent past due;
• Forty-two states plus Washington, D.C. had a 10% increase or more in accounts sent to collections
• Seven states saw a more than 20% increase in accounts sent to collections.

Cortera CEO Jim Swift said one sign that the economy may be flattening out from the sharp declines is that three of the states that showed improvement have been in Cortera’s Top 10 Worst list with past due percentages well above the national average.

Continue reading on Monitordaily.com