Course description
Commercial Debt Collection Techniques and Compliance
Gain an understanding of how to collect outstanding amounts owed through judicial and nonjudicial methods.
When a commercial business defaults on a loan or other contractual agreement, and it is apparent that payment will not be forthcoming, time is of the essence to preserve the creditors rights and begin the collection process immediately. This course will explore the collection process to understand how to preserve the creditors rights and efficiently and effectively collect the outstanding amounts owed through judicial and nonjudicial methods. The material will review judicial and nonjudicial collection remedies and when each is appropriate. Failing to understand the available collection methods for commercial debts and to act quickly can cause delays and expenses that are unnecessary. This information is critical for commercial businesses and lending institutions to help them understand the various collection methods available and the situations when each should be employed.
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Upcoming start dates
Who should attend?
This live webinar is designed for attorneys, credit and collection managers, presidents, vice presidents, business owners and managers, lending professionals, bankers, and accountants.
Training content
Beginning Collection Process – Preliminary Issues
- Understanding the Legally Relevant Documents
- When Is Notice Required Prior to Collections?
- Judicial vs. Nonjudicial Remedies (Pros and Cons)
Nonjudicial Collection Remedies
- Debts Secured by Real Property
- Foreclosure by Advertisement (State Specific)
- Assignment of Rents
- Self-Help Remedies
- Debts Secured by Personal Property
- UCC Article 9 Sale
- Setoff/Recoupment Rights
Judicial Collection Remedies
- Possible Claims for Litigation
- Judicial Foreclosure
- Claim and Delivery/Replevin
- Post-Judgment Collection Methods
- Judicial Seizure of Assets
- Garnishments
- Creditor's Examination
Receiverships
- Determining If a Receiver Is Necessary and Appropriate
- Removes Debtor From Control of the Business and Collateral
- Potential Ability to Sell Business as a Going Concern
- Avoiding Potential Environmental Issues and Other Benefits
Individual Guarantors
- Creditor's Examinations
- Judgment Liens
- Garnishments
- Procedural Pitfalls and Exemptions
Bankruptcy Issues
- Business Bankruptcies – What to Look for and How to Protect Your Interests
- Individual Bankruptcies – Cost/Benefit Analysis of Active vs. Passive Participation
Certification / Credits
Credits: CLE, CPE
Learning Objectives
- You will be able to identify the specific collection options available to you or your business.
- You will be able to explain how to initiate a collection lawsuit, including a determination of the appropriate claims and remedies.
- You will be able to describe judicial and nonjudicial collection methods and the benefits of each method.
- You will be able to review the current contracts and other documentation your company utilizes and determine if additional clauses are required to increase collection options after a default.
Contact this provider
Lorman Education Services - Live and On-Demand Courses
Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...