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

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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.

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
  • Quiz to measure staff learning and a separate answer key

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. Attendance verification for CE credits provided upon request.

ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.

Originally recorded on April 18, 2019.

Recorded webinar is available until October 31, 2019.

Free Digital Copy included with purchase to download and view beyond link expiration date.

Price includes sales tax.