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PowerPoint Presentation - Rosser Law

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PowerPoint Presentation - Rosser Law

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Presentation Transcript

    5. Collection Survival Tactics What can you do to reduce bad debt?

    6. Discussion Points Providing all elements necessary for an effective, all-Aimportant credit application. Guarantees What you need to know about the credit application role in litigation. What is involved in and preparation for pursuing litigation. How you can identify the signs before bankruptcy. How you should prepare for your clients bankruptcy. Tips on how to create a collections survival program.

    8. Credit Application Legal Identity Guarantees Terms & Conditions References

    9. Legal Identity Corporation 1) Secretary of State 2) Years in Business 3) Good Standing 4) Agency Partnerships LLC Doing Business As Out of State

    10. Guarantees As Part of Application Stand Alone Examples of What Not to Do Names Contemporaneous Other

    11. Checking References Rule of Comparison Fraudulent References

    12. Standard Terms & Conditions

    13. Terms & Conditions Important Provisions Suspension of Work Attorneys Fees Interest Notice of Defect Period

    14. Problem Accounts What to do about your clients asking for extended terms. What you need to do about your core clients who always paid on time who are now running 30 to 60 days late. How to know you are asking the right questions and talking to the real decision maker. What about security interest? Promissory Notes

    15. When to Send to Collection What factors to look at in filing suit. How much will it cost me to file suit? What are my chances? Magistrate Court

    16. Debtor Classification Intends to Pay Down on luck, good intentions Squeakeywheel Get at the top of his priority list FlimFlamMan Have to recognize this type at the outset or you have been had Bulldog If you want your money, come and get it!

    17. What classification of debtor should you sue for your money? Bulldog Here I come Squeakeywheel The ultimate squeak FlimFlamMan Never litigation cant find Intends to Pay Maybe, beware of assets

    18. The Perils & Rewards of Litigation Costs vs. Rewards

    19. Perils and Rewards of Litigation Perils Counterclaim Down Time Risk of Losing Collecting Rewards Winning Actually Getting Paid Deductions Other

    20. Preparing for Trial What Documentation Credit Applications and Investigations Corporation, Partnership, DBA, Individual Classification

    21. So, you have your judgment what next? Garnishment Did you save copies of checks? Do you have bank account number on credit application? Levy Burdensome

    22. Bankruptcy Signs Be Alert Preferential Payments Dealing with Debtor Reaffirmation Agreement

    23. Bankruptcy Signs to Watch Slow Payments Bad Checks Office Environment Changes Principals Unavailable Street Talk Restructuring Complaints Examples

    24. What is preferential treatment? Sums given to pay a past due debt Within 90 days of the date bankruptcy was filed

    25. What is non-preferential treatment? Sums given for present consideration Sales made in ordinary cause of business

    26. Special Problems Bad Checks Debtor Sells the Business Debtor Refuses Delivery

    27. Bad Checks Statutory Letter Civil Criminal

    28. Debtor Sells the Business What is business structure? What is transaction of sale? Continuation Theory Sale After Foreclosure

    29. Debtor Refuses Delivery Reason No Contract Quantum Meruit What can you recover?

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