How to Handle Customers Who File for Bankruptcy
What You Need to Know Before Working With A Claims Trader
Another customer filed for Chapter 11 bankruptcy and the pain sets in that you will never see a penny of the outstanding receivables. Then, the call comes from a claims trader who offers you sixty cents on the dollar for the outstanding debt. It's as if a fairy has come to rescue you It's all too tempting, but there are legal risks when selling a note to a claims trader. Before you sign the contract and incur even more headaches, you need to know the ramifications of your decision.
Philip P. Philbin, Certified Credit Executive (CCE) with the National Association of Credit Management (NACM) and 35-year expert, helps business executives navigate through the murky waters of claims traders. Sell the claim to a trader without doing your homework could result in your company getting sued by the very claims trader who bought the debt from you and for more money than they owe you! Philip teaches you the right time and wrong time to work with claims traders to keep your business out of trouble and actually recover some of your losses.
In this webinar, you'll learn how to:
Working with claims traders, why they exist, and how their business model works
Review your customer situation to determine if a claims trader is a good resolution plan
Identify the right timing to sell your note to a claims trader
Mitigate the risks in working with claims traders
As an added bonus, you'll receive Philip's white paper on how to effectively work with claim traders.
Mr. Philip P. Philbin CCE is the Managing Director and Senior Consultant at Commercial Credit Management Associates, LLC (CCMA) and the founder of the company. Mr. Philbin's entire working experience totalling 35 years has been solely in Corporate Credit & Collections Management to which he has distinguished himself as a leader in numerous industries. Mr. Philbin has obtained the coveted designations as Certified Credit Executive (CCE) from the NACM and the designation of Certified International Credit Professional (CICP) from the FCIB. An innovative and energetic leader, skilled communicator, team builder, and adept negotiator.
Another customer filed for Chapter 11 bankruptcy and the pain sets in that you will never see a penny of the outstanding receivables. Then, the call comes from a claims trader who offers you sixty cents on the dollar for the outstanding debt. It's as if a fairy has come to rescue you It's all too tempting, but there are legal risks when selling a note to a claims trader. Before you sign the contract and incur even more headaches, you need to know the ramifications of your decision.
Philip P. Philbin, Certified Credit Executive (CCE) with the National Association of Credit Management (NACM) and 35-year expert, helps business executives navigate through the murky waters of claims traders. Sell the claim to a trader without doing your homework could result in your company getting sued by the very claims trader who bought the debt from you and for more money than they owe you! Philip teaches you the right time and wrong time to work with claims traders to keep your business out of trouble and actually recover some of your losses.
In this webinar, you'll learn how to:
Working with claims traders, why they exist, and how their business model works
Review your customer situation to determine if a claims trader is a good resolution plan
Identify the right timing to sell your note to a claims trader
Mitigate the risks in working with claims traders
As an added bonus, you'll receive Philip's white paper on how to effectively work with claim traders.
Mr. Philip P. Philbin CCE is the Managing Director and Senior Consultant at Commercial Credit Management Associates, LLC (CCMA) and the founder of the company. Mr. Philbin's entire working experience totalling 35 years has been solely in Corporate Credit & Collections Management to which he has distinguished himself as a leader in numerous industries. Mr. Philbin has obtained the coveted designations as Certified Credit Executive (CCE) from the NACM and the designation of Certified International Credit Professional (CICP) from the FCIB. An innovative and energetic leader, skilled communicator, team builder, and adept negotiator.
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About The Training Provider: Business Expert Webinars
Business Expert Webinars - BEW speakers are international business experts including best-selling authors, award-winning speakers, and business gurus using webinar technology to deliver eLearning seminars. With over 750 live webinars on the schedule, delivered by over 150 speakers, BEW can help any business professional take their game to the next level.
