“Phil is a visionary credit manager that knows how to bring best practices and automation to the accounts receivable process that successfully improved performance of accounts receivable. He reduced both Days Sales Outstanding (DSO) to 30+ days or better on average and past due balances to less than 2% of total portfolio. In this economy, it is so important to find additional liquidity within your own AR and Phil is a guy that can do it! Any company that hasn't scruitinized their AR and related processes to optimize liquidity should contact Phil immediately.”
-- Michelle Privette, Sales Rep, SunGard

“Phil represented his company at NACM meetings and was always professional and added value to the meetings he attended. Phil has been a strong and active member of the Association.”
-- Phil Lattanzio , President / COO , NACM Midwest

“Phil represented Klein Tools in managing the credit relationship with my company, HD Supply White Cap Construction Supply. Phil was always the pinnacle of professionalism and strived to find solutions to issues rather than simply point a finger. Our professional relationship was one of mutual respect and I can personally pass along my strongest recommendation for Phil.”
-- Bob Mealey , Director Fiance Administration , White Cap Construction Supply

“I worked with Phil. He is a credit professional with thorough knowledge of the industry, vast experience in Credit as well as in Collections. He is very knowlegeable, easy to work with and get things done. He can save the organization lot of money !!”
-- Johnson Mathai , Senior Credit Analyst , Donlen Corporation

"I have known Mr. Philbin for many years and he has been an examplary Manager of Credit, finding creative ways to make the sales while protecting the companies interests. He has provided a great stewardship to his respective companies and has maintained
-- Mr. William Biehl, President, Biehl & Biehl

 
How to Handle Customers Who File for Bankruptcy
What You Need to Know Before Working With A Claims Trader
Presented by Philip P. Philbin CCE

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.
 


Suggested Attendees: Small business owners, Finance professionals, Business executives

About the Presenter:
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. ... read more

 
 

 

Presenter:
Philip P. Philbin CCE

 
Topic:
Finance, Leadership/Management

 
Date & Time:
Wednesday, May 12, 2010
02:30 PM — 03:30 PM
EASTERN TIME
 
Registration Fee:
$99 USD
Per Connection