Essentials of Collection Law (CPE Course)

CPE Credit: 4 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $45

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Course Description
A business engaged in debt collection activities must navigate a minefield of legal requirements for contacting debtors and repossessing assets. In the Essentials of Collection Law 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.

Author: Steven Bragg

Course Number: BL0004

Table of Contents
Chapter 1. Sales Contracts
Chapter 2. Collection Laws
Chapter 3. Credit Transactions
Chapter 4. Legal Issues Associated with Collection Activities
Chapter 5. The Collection Lawsuit
Chapter 6. Dealing with a Debtor Bankruptcy

Learning 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.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Business Law

Prerequisites: None

Advance Preparation: None

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.