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Commercial Debt Collection Techniques and Compliance

Gain an understanding of the collection process and how to collect on the 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 creditor's rights and begin the collection process immediately. This topic will explore the collection process to understand how to preserve the creditor's rights and then how to efficiently and effectively collect the outstanding amounts owed through judicial and nonjudicial methods. The content will discuss collection both judicial and nonjudicial 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 topic is critical for commercial businesses and lending institutions so they can understand the various collection methods available and the situations when each should be employed.

Runtime: 69 minutes
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Why Lorman?

Over 32 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

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
    • SelfHelp 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
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Why Lorman?

Over 32 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 Webinar

Applications have not yet been submitted for Delaware, Idaho, Kentucky, 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 June 14, 2019.

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 1.2
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.2 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 Business Center, Inc. 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.
     
  • ME CLE 1.0
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.0 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.2
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.2 credit hours.
     
  • 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.
     
  • ND CLE 1.25
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.25 hours of CLE credit.
     
  • NH MCLE 1.2
     
  • 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: 70 Minutes.
     
  • NJ CLE 1.2
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.2 hours of total CLE credit.
     
  • NV CLE 1.0
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
     
  • 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 Business Center, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • 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.
     
  • TN CLE 1.15
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.15 hours of credit.
     
  • VT CLE 1.0
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hours of self-study CLE credit.
     
  • WA CLE 1.25
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.25 hours of A/V credit under the Law & Legal Procedure category.
     
  • WI CLE 1.0
     
  • This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
     
  • WV MCLE 1.2
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.2 MCLE hours.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE 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.

Audio & Reference Manual

  • Arizona CLE 1.0
     
  • CA MCLE 1.0
     
  • HI CLE 1.0
     
  • IL CLE 1.0
     
  • ME CLE 1.0
     
  • MT CLE 1.0
     
  • NJ CLE 1.2
     
  • NV CLE 1.0
     
  • NY CLE 1.0
     
  • VT CLE 1.0
     
  • WA CLE 1.0
     
  • WV MCLE 1.2
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.0
     
  • CA MCLE 1.0
     
  • HI CLE 1.0
     
  • IL CLE 1.0
     
  • ME CLE 1.0
     
  • MT CLE 1.0
     
  • NJ CLE 1.2
     
  • NV CLE 1.0
     
  • NY CLE 1.0
     
  • VT CLE 1.0
     
  • WA CLE 1.0
     
  • WV MCLE 1.2
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 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

Emily M. Coyle

Emily M. Coyle

Plunkett Cooney, P.C.

  • Member of Plunkett Cooney, P.C.’s Banking, Bankruptcy and Creditor Rights Practice Group
  • Focuses practice primarily on the collection of commercial loans and debts along with loan modifications and workouts
  • Represents a large range of clients in litigation involving commercial debts from national banks to small businesses, and she remains active in the Federal Bar Association, American Bankruptcy Institute, and Debtor/Creditor Committee of the Oakland County Bar Association
  • Presented workshops on various collection issues from fraudulent transfer litigation to the benefits of receiverships, and foreclosure law
  • J.D. degree, magna cum laude, Western Michigan University Cooley Law School; B.S. degree, Juniata College
  • Can be contacted at 248-594-8613 or [email protected]
Michael A. Fleming

Michael A. Fleming

Plunkett Cooney, P.C.

  • Partner in Plunkett Cooney, P.C.’s Banking, Bankruptcy and Creditor Rights Practice Group who has represented creditors in bankruptcy for over thirty years
  • Represents clients in numerous aspects of commercial and secured transactions, including loan workouts, foreclosures and commercial loan collections, as well as business reorganizations and creditors' rights as well as business bankruptcy reorganizations
  • Named a Best Lawyer in America for bankruptcy and creditor debtor rights in 2015 and 2016, and has achieved the highest rating in the Martindale-Hubbell Law Directory
  • J.D. degree, cum laude, Wayne State University Law School; B.A. degree, magna cum laude, University of Michigan-Dearborn
  • Can be contacted at 248-901-4095 or [email protected]
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Why Lorman?

Over 32 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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Product ID: 406134
Published 2019
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