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OnDemand Course

Collection Strategies: When Assets Are Held in Corporations and Limited Liability Companies

Creditors who fail to understand the nature of business entities and the assets behind those entities may be in for some hard lessons once an account becomes delinquent.

All too often, the difficulties faced by businesses in collecting commercial debts result from insufficient planning before credit is extended. And it gets worse if the creditor fails to select legal counsel with particular experience in obtaining judgments and penetrating business entities determined not to pay. This information will assist business owners, financial officers and credit managers with the development of credit applications and procedures, understanding the particular risks of extending credit to corporations, limited liability companies and partnership entities and methods to minimize those risks, and implementing an effective collection strategy when an account becomes overdue. In addition to addressing the more traditional methods of enforcing money judgments, this material will evaluate options unique to entity debtors, including receiverships, charging orders and involuntary bankruptcy.

62 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 35 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

Assessing and Minimizing Credit Risk

  • How to Develop a Useful Credit Application
  • What to Learn About the Owners and Assets of an Entity Customer
  • When to Require a Security Interest, Guaranty or Letter of Credit
  • How to Achieve Special Protection for Sellers of Inventory

Planning an Effective Collection Strategy

  • Knowing When It Is Time to File Suit
  • Identifying the Defendants
  • Obtaining a Money Judgment vs. Enforcement of Property Rights
  • Evaluating Piercing and Reverse-Piercing of the Corporate Veil

Enforcement of Judgments Against Business Entities

  • Shock and Awe vs. Discovery in Aid of Execution
  • Attachment of Bank Accounts and Other Property Rights
  • Executing Against Stock, Partnership Shares and LLC Memberships
  • Bankruptcy Issues
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Why Lorman?

Over 35 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, New Hampshire, 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 May 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.
     

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.

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Why Lorman?

Over 35 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

Robert W. Pontz

Robert W. Pontz

Brubaker Connaughton Goss & Lucarelli

  • Founding member of the law firm of Brubaker Connaughton Goss & Lucarelli, Lancaster, Pennsylvania
  • Practice emphasizes commercial collection, representation of creditor interests in commercial litigation and bankruptcy proceedings, and business counseling
  • Frequent local and regional speaker at programs covering advanced collection topics and commercial bankruptcy
  • Admitted in the Commonwealth of Pennsylvania and federal courts for the Eastern and Middle Districts of Pennsylvania
  • Active member of the American Bankruptcy Institute and Eastern and Middle District of Pennsylvania Bankruptcy Conferences
  • Named a Select Lawyer in bankruptcy and creditors’ rights law by Susquehanna Style magazine
  • J.D. degree, cum laude, Washington and Lee School of Law; B.A. degree, with honors, majoring in history, College of William and Mary
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Why Lorman?

Over 35 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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  • State Specific Credit Tracker
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Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 407437
Published 2020
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