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Bankruptcy and collections are two areas of credit union operations where regulations and methods are constantly changing. To help your credit union get the latest updates, your League is holding a Bankruptcy and Collections Conference on Tuesday, October 6, at the Hilton Garden Inn in Freeport. Attorney Christy Jones will lead this session that is aimed at new and experienced credit union staff that have responsibilities around one or both of these topics.
At the Conference, the Bankruptcy component will cover the following:
- Differences between Chapter 13 and Chapter 7 filings
- Timeline for Chapter 13
- Identifying Members Headed for Chapter 13
- How to read and understand a Chapter 13 plan
- Determining when to file an Objection to Chapter 13 plan
- Cram Down Rule
- Filling out sample POCs
- Filling out sample POC attachments, amendments, etc.
- When and how to "change your system" to show plan terms
- Defending Mortgage Lien Avoidance
- Timeline for Chapter 7
- Identifying Members Headed for Chapter 7
- How to read and understand Chapter 7 Schedules and Statements
- Filling out sample Reaffirmation Agreements
- Understanding Motions for Relief from Stay (when, how, & why)
- Accepting Voluntary Payments on Discharged Debt
- Tips for dealing with member who has caused CU loss & now wants another loan
The Collections portion will address the following topics:
- Understanding the UCC and how it helps with Out-of-State Repossessions
- Filling out sample Notice of Sale/ Right to Redeem letters
- Ways to Ensure Sale of Repossessed Vehicle is "Commercially Reasonable"
- Filling out sample Notice of Deficiency/ Surplus letters
- Skip Tracing and Collections Using Social Media
- Collections of Commercial Loans
Register to attend the Conference by clicking here; email Susan Erlandson; or call your League's Member Services at 800.442.6715.