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Wednesday, November 30, 2011
12:00 pm - 1:30 pm Pacific
1:00 pm - 2:30 pm Mountain
2:00 pm - 3:30 pm Central
3:00 pm - 4:30 pm Eastern
Meet the Presenter
Elizabeth Fast, JD & CPA, Spencer Fane Britt & Browne LLP
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Credit unions are always a target for lawsuits – especially regarding consumer collections. Most credit unions already dislike collection work and today’s economy is making matters worse.
A mistake in the collection process can result in substantial damages against the credit union. Therefore, understanding the proper legal procedures during each collection phase is imperative. This session will explain all aspects of consumer collections, including the proper steps to initiate the collection process, handling collateral repossession, foreclosing on collateral, exercising the right of setoff, and otherwise pursuing the consumer for collection.
HIGHLIGHTS
- When is the proper time to start the collection process?
- Advantages of workouts
- Wrongful acceleration and foreclosure
- Conducting self-help repossession under UCC Article 9
- Aspects of a “commercially reasonable” sale
- Exercising the credit union’s right of setoff
- What if the consumer files bankruptcy?
WHO SHOULD ATTEND?
This informative session will be useful to loan officers at all levels, loan operations employees, credit administration personnel, collection staff, compliance officers, attorneys, and others involved with the collection process.
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