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Course Details

Pre-Suit Collection Strategies

Webinar: ID# 1022930
Recorded CD
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About This Course:
Many companies extend credit to their customers or other companies with whom they do business without an organized plan for collecting on the indebtedness if the debtor fails to pay as agreed. Other companies recognize the possibility of default, but find themselves ill equipped to collect the debt when the default occurs, because of a failure to take the correct steps when the credit was extended.

This webinar helps creditors to understand first how to perform the necessary initial steps when credit is extended in order to increase the likelihood of successful collections later.

The course then explains to creditors how to establish a collections plan, should problems arise with payment. We also give practical tips of how to keep your collection costs low, so as not to further compound your overall loss.

Failing to consider how your company will approach collections results in a loss of collections and increased out-of-pocket costs at the time of default. This information helps lenders ensure that they have devised the most efficient collections plan appropriate for their businesses.

Agenda

Deciding Whether to Pursue Collections
  • Out of Pocket and Other Costs of Collection
  • Validity of the Claim
  • Location of the Debtor
  • Collectability of Funds
  • Side Effects of Suit
Preventative Collection: Collecting Without Filing a Lawsuit
  • Detailed Credit Applications
  • Security Interest
  • Prepayment Before Granting Credit
  • Paying Past Due Amounts Before Extending Future Credit
Designing a Collections System
  • Follow a Consistent Pattern for Each Credit
  • Start Informal Then Escalate
  • Be Mindful of the Fair Debt Collections Practices Act for Consumer Debt
How to Discover Assets: Finding Property From Which to Collect
  • County Real Estate Records
  • Some States, Such as Nebraska, Allow the Public to Search Driver's Records
  • Court Records
  • Debtor Financial Statement
About The Presenter

Mollie Pawlosky
  • Shareholder with Dickinson Mackaman Tyler & Hagen, P.C.
  • Practice emphasizes all aspects of commercial litigation, collections and foreclosures
  • Selected for inclusion in the 2009 to15 editions of Chambers USA: America’s Leading Lawyers for Business as a “Leading Individual” in the area of General Commercial Litigation for the state of Iowa
  • Selected for inclusion in the 2016 edition of Best Lawyers in America in Bankruptcy & Creditor Debtor Rights/Insolvency & Reorganization Law
  • Selected as one of the Des Moines Business Record’s Forty Under 40 honorees for 2010
  • Wrote several articles on civil procedure, commercial litigation and collections
  • J.D. degree, with honors, DePaul University Collect of Law
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Pre-Suit Collection Strategies
Available on CD format
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