Collections Law

Ensure your organization is legally compliant — and collect money quickly and easily

Continuing Education Credits: CEU: 0.6 CPE: 6 

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Overview

Get up-to-date information on all aspects of collecting debts, including:
  • The Fair Debt Collection Practices Act (FDCPA)
  • Collection practices according to both federal and state law
  • The clear, distinct and crucial difference between the varying types of creditors
  • An understanding of the difference between consumer debt and commercial debt
  • Which applicable laws apply in collection related matters
  • Strategies and techniques to gain faster results
  • Legal action: know when to consider it and understand your limitations
  • Collections agencies: how they work, when an agency fits your needs and how to protect your interests

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Collect what's owed to you — legally, fairly and promptly

Collecting monies owed to you can be frustrating particularly because the rules and regulations of collections are very confusing. Knowing what you can and cannot do when it comes to collections is an ever-changing business. We focus our Collections training courses and continuing education products on keeping you and your business compliant and more importantly out of the regulatory hot seat. You are responsible for everything from repeatedly contacting (and tracking down) individuals and businesses that owe you money, to knowing when to take legal action, dealing with outside collection agencies, documenting procedures properly and — most importantly — staying in compliance with strict government guidelines.

Don't just assume you're in compliance … be absolutely positive!

Did you know even one harmless mistake could put you in violation of both state and federal laws and set you up for a costly, time-consuming legal battle? What you learn here will enable you to take a careful look at your organization’s collection policies and procedures, adjust them if necessary and ensure your collection practices are within the law at all times. You will become familiar with specific collection activities and practices that can put you in violation of the law.

Who should attend?

Managers, supervisors, vice-presidents and other professionals who work in any of the following areas will gain invaluable information from Collections Law: Collections, Accounting, Finance, Sales, Customer Service, Accounts Receivable, Small Business, Operations or Law.

With the powerful skills, strategies and tools you’ll master here, you’ll find collecting money owed to you is faster, easier and less stressful than you ever thought possible.Most importantly, you’ll gain a clearer understanding of the legal particulars involved in the collection process, and never again make uninformed decisions that could place your organization under legal duress.

Agenda

Strategies for collecting debts owed — quickly and legally

  • Discover how to best use credit applications and contracts to ensure prompt payment
  • Implement skip tracing: learn to use today’s technology to your advantage
  • Understand and comply with federal laws regulating skip tracing activity
  • Be aware of how to handle out-ofstate judgments
  • Learn important information about collecting from commercial firms, including corporations, partnerships and sole proprietorships
  • Learn ways to adjust your policies to ensure faster collection and better cash flow
  • Avoid common mistakes business professionals make in letters, emails and phone calls that can land their organizations in legal trouble
  • Uncover records and information concerning hidden assets that can be used to collect debts owed to you
  • Identify bad checks and know the legal procedures to follow as soon as you’ve received one
  • Discover the truth about post-dated checks — is there ever a right time to accept one?

When a bankruptcy is involved, can you still collect?

  • Learn the recent changes to bankruptcy law that can affect your collection procedures
  • Collect on past-due accounts when your debtor has filed for bankruptcy
  • Know your rights as a creditor during a debtor’s bankruptcy
  • Understand creditor options under Chapter 7, Chapter 11 and Chapter 13 bankruptcy proceedings and learn how debt collectors are affected
  • Protect your interests before a bankruptcy becomes imminent

Complying with FDCPA rules, regulations and statutes

  • Identify the most common violations of the FDCPA — are you guilty of any of these?
  • Participate in everyday scenarios to test your knowledge of collections law compliance
  • Learn how to set up compliance procedures that are consistent organization-wide
  • Monitor letters and phone calls: how to make sure every word and phrase are within legal guidelines
  • Recognize your rights as a debt collector vs. the debtors’ rights — what you need to know about FDCPA updates, changes and guidelines
  • Understand the Federal Truth in Lending Act, Fair Credit Reporting Act and Health Insurance Portability and Accountability Act: compliance issues that could affect your collection procedures

When your collection procedures aren’t getting the results you want

  • Choose the right options for legally locating debtors and applying greater pressure on them
  • Familiarize yourself with collection agencies: how they work, why their tactics succeed and what they can offer you
  • Determine if an outside collection agency is right for your needs or if it’s best to continue on your own
  • Choose a reputable collections agency: what to look for, what to avoid and how to protect your own interests
  • When to prepare for legal team involvement, how to go about it and concerns to bear in mind

Protecting your company’s assets in court

  • Determine when it is time to consider legal action for past-due amounts
  • Understand what you need to know regarding taking legal action against a debtor
  • Take your debtors to court: what you need to know about this last resort
  • Learn documentation procedures that will stand up in court
  • Discover how to handle post-judgment legal concerns
  • Find out the best way to collect judgments: wage garnishments, installment and lump sum payments, foreclosures and more
  • Know what to do when you are sued: top legal defenses for protecting your company’s assets and interests