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Outsourcing Collections: What's Right for Your Business?

Gain a better understanding of outsourcing collection of your accounts receivable and if it's the right decision for you.Many businesses struggle with collection of their accounts receivable. Businesses sometimes grow quickly and struggle to appropriately staff and train their employees to effectively collect on past due accounts or face obstacles that are beyond the abilities of their credit and collection professionals for various reasons. Sometimes business trends send you into a new area of focus that makes your collection practices stale and unable to produce positive results. This information will give you insight into whether outsourcing collection of your accounts receivable is right for you, how you can outsource collection of your accounts receivable, and will help you set expectations for the outsourcing process. When you have reached the point where recovery your past due accounts is a struggle, it is time to consider outsourcing to free up your credit and collection profession-als to focus on high-value accounts and to maximize the potential recovery you can obtain on your AR balances.
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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

Reasons to Outsource
  • Specialization: Unique Debts, Collateral Recovery, Consumer Debts, and More.
  • Staffing Concerns: Large Volume and the Size of Your Business,
  • Maximizing Recovery and Minimizing Effort
Collections: Third Party vs. First Party Outsourcing
  • Pros and Cons of Each Option
  • Fit for Your Business
Outsourcing for Legal Action
  • Working With Lawyers and Collection Agencies
  • Preparing Accounts for Suit
  • Reviewing Your Policies for Effective Legal Action
Reviewing Your Results
  • Tracking Results Over Time
  • Implementing Quality Control Mechanisms
  • Reconfiguring as Needed
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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.

Credits

Audio & Reference Manual

  • AK CLE 1.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
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

  • AK CLE 1.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
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

Raymond P. Wendolowski Jr., Esq.

Raymond P. Wendolowski Jr., Esq.

Bernstein-Burkley, P.C.

  • Attorney with Bernstein-Burkley, P.C.
  • Practice emphasizes all aspects of creditors’ rights
  • Conducts regular seminars and workshops on numerous creditors’ rights and collections, including seminars focused on the Fair Debt Collection Practices Act and negotiation tactics for collection professionals
  • Member of the CLLA
  • J.D. degree, University of Pittsburgh School of Law
  • Can be contacted at 412-456-8119 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: 406200
Published 2019
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