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
No lender likes to do repossessions, but it may be the only way to collect on a loan. Making a mistake in the repossession process can result in losing the right to pursue the debtor for a deficiency and cause substantial damage to your institution. This webinar will explain all aspects of the repossession process regarding non-real estate collateral, starting with the decision to repossess and ending with the disposition of the collateral at a private or public sale. Learn the steps to properly repossess and dispose of collateral under UCC Article 9.
Attendance certificate provided to self-report CE credits.
- What requirements does UCC Article 9 impose on the lender?
- When is it legally permissible to conduct self-help repossession?
- Can the lender choose between a private or public sale?
- What must the notice of sale contain?
- What is required for a commercially reasonable sale?
- What if the debtor files bankruptcy?
- TAKE-AWAY TOOLKIT
- UCC Article 9 repossession checklist to ensure you don’t forget a step in the repossession process
- UCC notice of sale form
- Employee training log
- Quiz to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for all lending and collection personnel, including loan officers, loan operations staff, credit administration staff, managers, collectors, compliance officers, and attorneys.
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.