Debt Collection Series:
Best Practices for Garnishments & Levies: Getting It Right!
Wednesday, September 7, 2016
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Has your institution implemented proper procedures for handling garnishments and levies? Institutions handle these complicated legal processes daily, but many do so without the proper training, which can expose the institution to significant liability. This webinar will explain the steps necessary to properly handle garnishments and levies, such as identifying accounts, placing account holds, answering interrogatories, notifying the accountholder, and remitting funds. You will also learn the special garnishment procedures for accounts that receive federal benefit payments. In addition, this webinar will explain the steps your institution must take when attempting to garnish borrower’s funds held at another institution.
Continuing Education: Attendance verification for CE credits upon request
- What are the risks and how can they be mitigated?
- When are you required to notify the accountholder?
- What if your institution holds a security interest in the funds?
- What if an account is held by more than one person or by a trust, sole proprietorship, corporation, etc.?
- What are the special garnishment procedures for accounts containing federal benefit payments?
- What steps must be taken to garnish funds held at another institution?
- TAKE-AWAY TOOLKIT
- Official Guidelines for Garnishment of Accounts Containing Federal Benefit Payments issued by the Department of the Treasury
- Sample notice form to be sent to accountholders
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session will be useful to deposit operations personnel, tellers, account service representatives, collectors, compliance personnel, auditors, attorneys, and managers.
PLEASE NOTE: Webinar content is subject to copyright and intended for your individual financial institution’s use only.