A GUIDE TO DEBT COLLECTION PRACTICES FOR ECONOMIC DEVELOPMENT AGENCIES
If you wish to register for this event, please bring a completed registration form along with a check made payable to PEDA with you to the registration desk on the floor in the foyer area of the Harrisburg Hilton & Towers.
Click here for PDF brochure.
Are you seeing an increasing number of delinquent loans in your portfolio? Are your legal fees and costs involved with collecting on delinquent loans increasing? Are you unsure about what exactly you need to do to collect on delinquent loans? This session will address the ins and outs of good debt collection practices for economic development agencies. We’ll also look at ways you can save legal costs in pursuing delinquent loans. Some of the topics to be discussed in this session include:
- Dealing with Delinquent Loans: From 30 days late to charging off a bad debt.
- Forbearance and restructuring agreements: Working with companies in a troubled economy.
- Declaring an Event of Default: When it’s time to pull the plug.
- Foreclosing on Collateral: Strategic considerations.
- Bankruptcy: How does it affect my loan?
- Compromise agreements: When and why to take less than you’re owed.
- Charging off bad debts: What you need to do.
- Collection costs: What you can do to save on legal bills.
Whether you’re a seasoned loan official or new to economic development, this session will increase your knowledge of the debt collection process, and help you evaluate your options when dealing with troubled loans.
Charles Rees Brown holds a B.A. from the Pennsylvania State University (1984) and a J.D. from the Widener University School of Law (1993). In his legal practice he has represented corporate clients, including national debt collection agencies, municipal governments, and private individuals. He currently works as an Assistant Counsel for the Governor’s Office of General Counsel where he represents Commonwealth agencies, including the Department of Community & Economic Development, the Pennsylvania Industrial Development Authority, the Commonwealth Financing Authority, and other agencies, on debt collection matters.
Attention Certified Providers: This course is approved to provide 3.0 organizational PDUs in the Discipline of Finance, as explained in the Guidelines for Certification of Economic Development Organizations issued by the Pennsylvania Department of Community and Economic Development and in the Institute’s Policies and Procedures.
Note: This session is recognized by the EDP certification program of the Northeastern Economic Developers Association (NEDA).