Consumer Collection Series: Your Borrower Filed Bankruptcy, Now What?

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

This is the day every lender dreads – the day you receive notice that your borrower filed bankruptcy. Now what? For a lender, the consumer bankruptcy process is complicated, time-consuming, and expensive. Many lenders waste time and money handling bankruptcies because they don’t understand the available options. This webinar will explain the actions that must be taken to protect your financial institution’s interests, and the actions that are prohibited. It will focus on the basics, but will also address more advanced bankruptcy concepts such as fraudulent transfers, preference payments, cram-downs, and reaffirmation agreements.

Attendance certificate provided to self-report CE credits.

HIGHLIGHTS

• When are lenders required to file a proof of claim?
• When is foreclosure on collateral permitted?
• Are reaffirmation agreements a good idea?
• When can lenders exercise the right of setoff in a bankruptcy?
• What can be done after the debtor is discharged?
• Can the debtor voluntarily agree to pay the lender?
  
  
• TAKE-AWAY TOOLKIT
  • Links to the United States Bankruptcy Court website to obtain online, fillable forms
  • Employee training log
  • NEW: Interactive Quiz to measure staff learning

WHO SHOULD ATTEND?

This informative session will be useful to loan officers, loan operations personnel, credit administration personnel, collectors, attorneys, managers, and others involved in the bankruptcy process.

NOTE:  All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.