Be prepared for delinquent customers and implement best practices into your internal collections policies and procedures.
For many companies, the most challenging part of operating a successful business is ensuring you’re getting paid for your efforts. While businesses focus on providing quality services or products to their customers, some customers will inevitably fail to pay debts timely and accrue delinquent balances. The unfortunate reality is that all businesses, at some point, will find themselves needing to deal with delinquent customers. This topic will help you implement a few best practices into your internal collections policies and procedures to be prepared in advance for those delinquent customers. In addition to internal collection procedures, this material will also discuss when it may be appropriate to bring in a third party to enforce collections and the best way to be prepared for legal proceedings.
Learning Objectives
- You will be able to explain the benefits of establishing clear and precise policies and procedures for internal collections against delinquent customers.
- You will be able to recognize when it is the appropriate time to engage a third party for collections proceedings against a delinquent customer.
- You will be able to describe how to monitor a customer’s actions and identify when a potential customer bankruptcy filing may be near.
- You will be able to discuss the importance of keeping organized records and documentation for each customer regarding formal legal proceedings.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
| Procedures and Policies for Collections | |
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| Internal Collections Within the Company | |
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| Third-Party Collections | |
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| Pre-Bankruptcy Planning and Bankruptcy Techniques | |
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| The Legal Process | |
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
Live Webinar Registration
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- IL CLE 1.0
- This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
- IN CLE 1.1 (Pending)
- This program has been submitted to the Indiana Commission for Continuing Legal Education for Distance Education for participating attorneys. Application Pending.
- MN CLE 1.0 (Pending)
- This program has been submitted to the Minnesota Board of Continuing Legal Education. Approval pending.
- MO CLE 1.3 (Pending)
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
- NJ CLE 1.3
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
- NM CLE 1.0
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- OH CLE 1.25 (Pending)
- This course has been submitted to the Supreme Court of Ohio Commission on Continuing Legal Education for 1.25 CLE hours. Approval pending.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hours of CLE credit.
- WI CLE 1.0
- This program has been approved by the Board of Bar Examiners for 1.0 hours for use toward the Wisconsin Mandatory CLE requirement.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
CPE 1.2 including Business Management and Organization 1.2
- Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Management and Organization for 1.2 hours. Prerequisite: basic knowledge of business financials. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
OnDemand Course
This course was last revised on January 27, 2022.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.0
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.0 hours credit.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Who should attend?
This live webinar is designed for credit and collection managers, attorneys, presidents, vice presidents, loan officers, loan department personnel, branch managers, and accountants.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Kirk B. Burkley, Esq.
Bernstein-Burkley, P.C.
- Managing partner of Bernstein-Burkley, P.C.
- Practice emphasizes all aspects of bankruptcy and restructuring, creditors’ rights, business and corporate transactions, litigation, real estate, and oil and gas
- Conducts regular seminars/live webinars and workshops on bankruptcy, creditors’ rights, and oil and gas
- Author of several publications related to the bankruptcy field, with work appearing in ABI Journal, Equipment Leasing Newsletter, Pennsylvania Association of Credit Managers Newsletter The Creditor, and more
- Emeritus Board Member of the American Board of Certification, past president of the American Board of Certification, past president of Turnaround Management Association, member of Allegheny County Bar Association, American Bankruptcy Institute
- J.D. degree, University of Pittsburgh School of Law; B.S. degree, Ohio University
- Can be contacted at [email protected] or 412-456-8108
Christopher B. Wick
Hahn Loeser & Parks LLP
- Partner, Hahn Loeser & Parks LLP
- Specializes in corporate restructuring and bankruptcy law
- Focuses his practice on corporate reorganizations, workouts, debtors’ and creditors’ rights, and corporate transactions across the United States
- Author of the Intersection of Intellectual Property and Bankruptcy Law Chapter of the Commercial Bankruptcy Litigation Treatise, many American Bankruptcy Institute Journal articles, and articles for other publications regarding debt collection
- American Bankruptcy Institute, member since 2004; Cleveland Metropolitan Bar Association, Member since 2001
- J.D. degree, Washington & Lee University; B.A. degree, Washington & Lee University
- Can be contacted at 216-274-2489 or [email protected]
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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