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Product ID: 386850EAU
 
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Late Payment Collection Alternatives: Repayment Agreements and Beyond

OnDemand Webinar (73 minutes)

The turmoil in the credit market has siphoned available credit from many corporate customers’ companies looking for new and continued financing to meet their operations. Now lenders are either charging very high borrowing costs, or refraining from lending at all. For many corporate customers, the reality of tight credit already is limiting daily operational needs, leaving many vendors to these corporate customers with delinquent accounts. Can your customer pay? What are your alternatives in dealing with the delinquent account?

Authors

Scott E. Blakeley, Esq., Blakeley & Blakeley LLP
Bradley D. Blakeley, Esq., Blakeley & Blakeley LLP

Agenda

Is the Account Delinquent?

  • Vendor's View

- Credit Application Provision, Credit Policy, SOX

  • Customer's View

- Battle of the Forms, Course of Dealing, Stop Payment, and Counterclaim

What Assets Are Available for Payment?

  • Likelihood and Effect of Bankruptcy

Document Retention

  • Emails
  • Litigation Holds

Workout Possibility

  • Hardship and Demand Letter
  • Improving Legal Standing
  • Becoming Secured and Taking Guaranty

Using a Repayment Agreement to Fix the Debt

  • Waive Claims
  • Preference Defense

How Arbitration and Mediation Operate as a Means to Collect the Delinquent Account?

Looking to the Court System to Collect a Delinquent Account

  • Jurisdiction
  • Prejudgment Remedies
  • Timing
  • Enforcing a Judgment Through a Writ of Execution

- Judgment Liens

- Garnishments

- Writs of Possession

- Judgment Debtor's Exams

  • Alternative Sources of Collection

- Shareholders

- Promoters

- Guarantors

- Successor Corporations