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Credits

Sponsored by Lorman Education
Product ID: 409701EAU
 
Credit & Course Provided by:

Collection Negotiation Best Practices

OnDemand Webinar (69 minutes)

Learn how to better negotiate your collection debt while understanding new tactics to help be more successful without wasting time and money.Credit and collections professionals face tough challenges from pesky customers daily. Many customers have become so accustomed to avoiding their obligations that negotiating with them seems pointless, at best, and a drain on your valuable time and money at worst. This information will help credit and collections professionals better develop their negotiation tactics, implement policies and procedures that will make negotiation easier and more effective, and better understand when to seek help from outside your organization.

Authors

Raymond P. Wendolowski Jr., Esq., Bernstein-Burkley, P.C.

Agenda

Commercial Collections

• Collecting Internally

- Credit and Collections Policies

- Timing Your Efforts

• Outside Collections

- When to Place

- Collection Agency vs. Attorney

• Managing Your Customer Base

- Being Aggressive Without Losing Future Business

- How to Know When to Cut Bait

Consumer Collections

• FDCPA and State Regulations

- Know the Risks

- Stay Aggressive

• The Importance of Training

- Create a Script/Handbook

- Monitoring and Compliance

• Utilize Outside Collections

- Agencies vs. Lawyers

- Alternative Fee Structures

Unusual Circumstances

• Collateral

- When to Seize and When to Wait

- Doubling Down

• Other Security

- Judgments

- Promissory Notes

- And More