Essentials of Collection Law FLEXCAST
Available Until
Your Desk
4.0 Credits
Member Price $98.00
Non-Member Price $113.00
Overview
A business engaged in debt collection activities must navigate a minefield of legal requirements for contacting debtors and repossessing assets. In this course, we address these issues, including sales contract requirements, the various laws pertaining to collections, security interests in personal property, vehicle repossessions, reclaiming assets from a bankrupt debtor, and much more.
Highlights
Sales contracts. Collection laws. Credit transactions. Legal issues associated with collection activities. The collection lawsuit. Dealing with a debtor bankruptcy.
Prerequisites
None.
Designed For
CLEs, CPAs, CEOs and other financial professionals.
Objectives
State the circumstances under which a sales contract is formed. Specify the rule under which an irrevocable offer is created. Recall the point at which a seller can demand the return of goods from a buyer. Specify when a buyer is assumed to have accepted delivered goods. Specify the details of the various laws impacting the collection process. Recall how a mechanic’s lien works. Recall the legal process for seizing a borrower’s property. Specify the process for creating a security interest in personal property. Identify the rule for billing a debtor for a bounced check. Specify the rules pertaining to the repossession of a vehicle. Recall the advance preparation steps for collection litigation. Specify the bankruptcy chapter under which an individual reorganizes his or her personal finances. Identify the responsibilities of a creditor’s committee. Recall the requirements for an involuntary bankruptcy filing. Specify the priority for payouts in a bankruptcy filing. Identify the test needed to qualify for a Chapter 7 bankruptcy filing.
Preparation
None.
Notice
This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $113.00
Member Price $98.00