Protecting Your Credit Union
When a Member Files Bankruptcy:
Advanced Issues
WEBINAR OR ON-DEMAND WEB LINK
(LINK INCLUDES FREE CD ROM)


Tuesday,
December 13, 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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Bankruptcies are increasing and they are getting more complicated.  This session will explain the actions that a credit union must take to protect the credit union’s interests in a bankruptcy situation, and the actions that are prohibited.  We will examine the steps (and pitfalls) that your credit union should know regarding Chapters 7, 11 and 13 of the Bankruptcy Code.  This session will address the more difficult questions in bankruptcy such as when a cram down is permitted and how to obtain a reaffirmation agreement.  By attending this session, you will gain the knowledge necessary to strengthen your credit union’s position in a bankruptcy situation.

This webinar also will discuss two new changes to the Federal Rules of Bankruptcy Procedure that become effective on December 1, 2011: Rule 3001 on the creditor’s requirements for filing proofs of claim and Rule 3002.1 on the debtor’s opportunity to cure a default and maintain payments on a home loan. A copy of the new proof of claim form will be provided.

HIGHLIGHTS121311cu.jpg

  • What is the automatic stay and what does it prohibit?
  • When can a credit union exercise a right of setoff?
  • Are reaffirmation agreements a good idea?
  • What is a cram down and how does it work?
  • What if the trustee claims a preference payment?
  • What can the credit union do after the debtor is discharged?

WHO SHOULD ATTEND?

This informative session will be beneficial for loan officers at all levels, loan operations personnel, credit administration staff, and others involved in the collection process.