Pre-Suit Collection Strategies
|Date / Time:
Many companies extend credit to their customers or other companies with whom they do business without an organized plan for collecting on the indebtedness if the debtor fails to pay as agreed. Other companies recognize the possibility of default, but find themselves ill equipped to collect the debt when the default occurs, because of a failure to take the correct steps when the credit was extended.
This webinar helps creditors to understand first how to perform the necessary initial steps when credit is extended in order to increase the likelihood of successful collections later.
The course then explains to creditors how to establish a collections plan, should problems arise with payment. We also give practical tips of how to keep your collection costs low, so as not to further compound your overall loss.
Failing to consider how your company will approach collections results in a loss of collections and increased out-of-pocket costs at the time of default. This information helps lenders ensure that they have devised the most efficient collections plan appropriate for their businesses.
Deciding Whether to Pursue Collections
Preventative Collection: Collecting Without Filing a Lawsuit
- Out of Pocket and Other Costs of Collection
- Validity of the Claim
- Location of the Debtor
- Collectability of Funds
- Side Effects of Suit
Designing a Collections System
- Detailed Credit Applications
- Security Interest
- Prepayment Before Granting Credit
- Paying Past Due Amounts Before Extending Future Credit
How to Discover Assets: Finding Property From Which to Collect
- Follow a Consistent Pattern for Each Credit
- Start Informal Then Escalate
- Be Mindful of the Fair Debt Collections Practices Act for Consumer Debt
About The Presenter
- County Real Estate Records
- Some States, Such as Nebraska, Allow the Public to Search Driver's Records
- Court Records
- Debtor Financial Statement
- Shareholder with Dickinson Mackaman Tyler & Hagen, P.C.
- Practice emphasizes all aspects of commercial litigation, collections and foreclosures
- Selected for inclusion in the 2009 to15 editions of Chambers USA: America’s Leading Lawyers for Business as a “Leading Individual” in the area of General Commercial Litigation for the state of Iowa
- Selected for inclusion in the 2016 edition of Best Lawyers in America in Bankruptcy & Creditor Debtor Rights/Insolvency & Reorganization Law
- Selected as one of the Des Moines Business Record’s Forty Under 40 honorees for 2010
- Wrote several articles on civil procedure, commercial litigation and collections
- J.D. degree, with honors, DePaul University Collect of Law
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.
|About Webcasts / Audio Conferences / Podcasts:|
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versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without
any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back
at work immediately after the session ends!
And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous
times and to share it with others in your office.
Handout materials and the phone number for live presentations are made available to you prior to the event via email from the
presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.
|About The Provider:
||Lorman Education Services has provided educational seminars and online training for professionals since 1987.
Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.
That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.
Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
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