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 Bonded

Good news, especially for forwarders: Chubb has renewed our bonding insurance for another year. If you, as a forwarder, use the www.alqlist.com website to forward your collections cases, or use your own legal forwarding system and notify us (and the receiving law firm) on law firm employment, those cases will continue to be automatically registered for immediate and free bonding with us up to $3.5 million. Subject to the terms and conditions of coverage set forth in the policy, this program indemnifies those who forward cases through the American Lawyers Quarterly ("ALQ") law list against loss due to theft by listed lawyers. The coverage extends to listees and claims in all 50 states and Canada. Would you like to learn more? Visit the American Lawyers Quarterly Bonding Program page on our website. Thank you.

Thomas W. Hamilton




 Industry News


Evaluating your claim for suit
by Steve Harms
Collection efforts have not been successful in collecting your past due balance, and you are considering a collection law suit against your debtor. The purpose of this article is to review some of the practical considerations in evaluating your claim for suit.
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Personal guarantees: How helpful are they?
by Murray S. Lubitz, Esquire
It is a prudent credit manager that attempts to obtain personal guarantees from the principals of an incorporated entity to which credit is being extended. A personal guarantee creates a greater potential source of recovery for the collection of outstanding receivables. The guarantee, as an effective tool of collection, can be maximized when proper attention in drafting, execution and monitoring is exercised. However, in the final analysis, the effectiveness of a personal guarantee is directly dependent upon the financial capability of the guarantor.
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New ordinance in Chicago regulates debt collectors
Weltman, Weinberg & Reis Co., LPA
On Dec. 12, 2012, the Mayor of the City of Chicago introduced a proposed new ordinance to regulate debt collection activities for debt collectors of consumer credit debt owed by City of Chicago residents. The proposed ordinance was amended and passed on Jan. 17, 2013 and becomes effective July 1, 2013.
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The Triadic System is ALIVE
by Timothy Wan
To paraphrase Mark Twain, the reports of the death of the Triadic System is exaggerated. It's alive. And well. It's just transformed. It's different.
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M&A in 2012: A Top 10 List
Greenberg Advisors
2012 was another busy year despite, and in some cases because of, regulatory headwinds. There were 49 ARM/RCM* transactions worldwide accounting for $1.34 billion of ARM deal value in 2012, down from $1.72 billion in 2011 but higher than $1.25 billion in 2010.
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International Association of Commercial Collectors elects 2013 board of directors
insideARM.com
The International Association of Commercial Collectors recently elected its board of directors for the 2013 year during the association's 42nd Annual Convention in Miami Beach, Fla. Directors have been elected by their fellow association members to serve in a leadership role, providing guidance and direction for the association.
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Confession of Judgment Clause as a collection tool
by Shawn P. McClure
Including a valid confession of judgment clause within your written agreement with a customer can be a valuable tool in securing payment, but it is a complicated tool that requires both careful planning and implementation. It is critical to make sure that the confession of judgment is properly drafted, and that the proper steps are taken in its enforcement, in order to take full advantage of this powerful collection tool.
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Atradius Collections' new Global Collections Review now includes India and Turkey
PR Newswire
Atradius Collections is releasing the results of its 6th Global Collections Review shortly. Since 2009, global B2B debt collections specialist Atradius Collections, has conducted and released the review to provide decision-makers in the credit management industry with an understanding of the dynamics and differences in collections practices by country and region.
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6 tips for making collection calls that get results
Credit-to-Cash Advisor
For most people, picking up the phone to call a customer and ask them for money isn't the highlight of their day. In fact, in most over-worked and under-staffed credit departments, collection calls are placed dead last or fall off the "to-do list" altogether.
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What our clients have to say:
Rubin & Levin has considered the American Lawyers Quarterly a trusted resource for many years. The care and personal attention given to the ALQ by Tom and Nancy Hamilton has allowed it to remain a symbol of excellence in an industry that is ever-changing and evolving.

— Christine Hayes Hickey, Esquire, Rubin & Levin, P.C., Indianapolis, Ind.

ALQ has been a go-to resource for Bessenbacher since our founding in 1933. The attorneys they list are top notch, and if we ever need assistance, the ALQ staff is extremely prompt and efficient in resolving all matters for us. The ALQ makes themselves available at all the association meetings we attend, which helps to forge stronger than usual relationships with them and their listees, and that makes doing what we do in the commercial collection business a whole lot easier.

— Jim Bessenbacher Jr., The Bessenbacher Company, Kansas City, Mo.


Upcoming Events

March 19, 2013
CLLA Eastern Region 2013 Installation Dinner
The Water Club, New York City

April 11-14, 2013
Commercial Law League of America 83rd Chicago/Spring Meeting & 119th National Convention
Westin Michigan Avenue Hotel — Chicago

May 8-11, 2013
National Association of Retail Collection Attorneys Spring Collection Conference
Caesar's Palace — Las Vegas

Complete schedule of events


TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Mike Ginsberg on the future of collections (insideARM.com)
Temporary suspension extends time to collect aged bad debt in New York (Jocelyn R. Nager, Esq., President, Frank, Frank, Goldstein & Nager, P.C., New York)
Does an IRS lien trump your interest in a debtor's property? (Amanda R. Yurechko, Attorney, Weltman, Weinberg & Reis Co., LPA)
Now we know: How much proof do you need for that unsecured claim? (Weltman, Weinberg & Reis Co., LPA)
A mechanic's lien isn't good enough so protect yourself with a bonded stop notice (Howard Goodman)

Don't be left behind. Click here to see what else you missed.


 

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