Available in:

OnDemand Course

Set-Off and Recoupment Rights and other Best Practices and Guidelines

Gain an understanding of set-off and recoupment to preserve and exercise your rights to collect the money owed to your company.

Sooner or later some of your customers will have business challenges. Two useful remedies available when your customers are in financial trouble are set-off rights and recoupment rights. You need to know what they are and how to use them. Learning to work with financially stressed customers is key to the success of your company. Many (but not all) of your customers with current problems will survive and thrive. You need to identify and help the survivors, because they will be loyal customers in the future. At the same time you must minimize your risk to those customers who will not make it and know how to collect the money. This topic will discuss the key issues for employing set-off and recoupment rights and some strategies and tactics to succeed in business with those in financial distress and to collect the money owed to your company.

65 minutes
Certificate of Completion
Purchase Options

More Program Information

Why Lorman?

Over 34 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

Set-off Rights

  • Definition of Set-off Rights
  • Application of Set-off Rights in Practice

Recoupment Rights

  • Definition of Recoupment Rights
  • Applications of Recoupment Rights in Practice

Set-off Rights and Recoupment Rights Compared and Contrasted

  • How Are They Different From One Another?
  • Actual Effects of the Differences Between Set-off and Recoupment Rights

Review Your Policies and Procedures

  • Credit
  • Procurement
  • Following and Understanding Policies and Procedures

Review Your Contract Documents

Know Your Customer

  • What Do Your Documents and File Tell You About the Party With Whom You Are Doing Business?
  • What Does Your Sales, Purchasing and Credit Staff Know About the Party With Whom You Are Doing Business?
  • What Can You Learn From Industry Sources?
  • What Does the Public Record Reveal?

What Are Your Alternatives?

  • Other Outlets for the Sale of Products?
  • Other Delivery Options?
  • Other Payment Options?
  • Other Pricing?

Uniform Commercial Code Remedies

Other Collateral

  • To Make Your Customer a Better Credit Risk

Finding the Debtor and Finding the Assets

Discovery of Assets Through Court Proceedings: Judgment Debtors Examinations

Ethics in Collections

Collecting the Debt Through Garnishment

Execution Against Real and Personal Property

  • Executions Against Real and Personal Property
  • Attachments - Proven Methods That Are Workable for Both Sides
  • Replevin

Fraudulent Transfers

Understanding Basic Bankruptcy Law From a Creditor's Perspective

  • General Considerations
  • The Automatic Stay
  • Avoidable Preferences
Purchase Options

More Program Information

Why Lorman?

Over 34 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

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on January 14, 2020.

Call 1-866-352-9540 for further credit information.

  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • CA MCLE 1.0
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
     
  • MT CLE 1.0
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.0 CLE credits.
     
  • 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.

Purchase Options

More Program Information

Why Lorman?

Over 34 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

Michael R. King

Michael R. King

Gammage & Burnham, PLC

  • Founding member of Gammage & Burnham, PLC
  • Practice emphasizes creditors’ rights and construction issues, and also includes consulting and supervising throughout the firm’s areas of business
  • Includes emphasis on creditors’ rights, bankruptcy cases, general litigation, loan documentation, workouts, foreclosures and forcible detainers, as well as deficiency collection and accounts collection
  • Client list includes banks, mortgage companies, distributors in various industries and leasing companies
  • Former director of the Arizona Chapter of the National Association of Credit Managers (NACM)
  • Named Best Lawyer in the areas of bankruptcy and creditor debtor rights for the last 10 years by Best Lawyers in America
  • Ranked as a Super Lawyer by Super Lawyers
  • Ranked as one of Arizona’s Finest Lawyers by Arizona’s Finest Lawyers Foundation
  • Can be contacted at https://www.gblaw.com/professional/michael-r-king/
Purchase Options

More Program Information

Why Lorman?

Over 34 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!


  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 406084
Published 2020
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!