Bankruptcy 102: The Automatic Stay
A NorthLegal Webinar Presented April 25, 2017
Duration: Approximately 2:00 hr:min
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| Cost | How to Attend | How to Obtain Handouts |  |
It's one of the most important concepts in bankruptcy—but it's also one of the most misunderstood.
Most creditors have heard of "the automatic stay" and that it prohibits a creditor from "doing anything to collect," but myths about what it really prohibits—and even about when it begins and ends—abound. Those misunderstandings can result in sanctions for those who err in one direction, and lost opportunities to collect for those who err in the other direction!
It is essential that those who routinely collect consumer debts have a strong understanding of the automatic stay. Those in management who are responsible for oversight of the collections department must also understand the rule well enough to perform their supervisory role. In fact, anyone who may interact with a borrower who has filed bankruptcy should have at least a basic understanding of the rule.
During this program, participants learn about issues including:
- When exactly does the automatic stay begin? The general rule is easy, but there are exceptions to it that are important to know and myths surrounding it that are important to avoid.
- When does the automatic stay end? The Bankruptcy Code lists multiple times the automatic stay ends without your financial institution taking any action at all.
- When are you entitled to have the automatic stay lifted? What must be done to have that happen?
- What does the automatic stay really prohibit? May you return a call from the debtor? May you call to ask about insurance? May you send a payment reminder on a credit card or an auto loan? What about on a mortgage or a HELOC? May you send periodic statements? If you repossess a car before the bankruptcy is filed, does the automatic stay require you to release it after it has been filed? Does the automatic stay prohibit you from freezing funds on deposit?
- How can knowledge of the limitations of the automatic stay, together with careful planning, help your financial institution save money on legal fees?
The automatic stay is perhaps the most important bankruptcy-related rule for collectors and those who supervise them to understand. Join collections, compliance and management professionals from across the country for this program to learn how to best protect your financial institution!
NOTE: This program is intended for employees of consumer lending
institutions. Please contact NorthLegal Training and Publications to obtain approval
before registering if you are not an employee of a consumer lending institution.
Cost/Registration
The fee to attend this archived program is $190.00 if paid by credit card or $200.00 if paid by check. For that fee, you or someone from your financial
institution may view this program as often as you like for a period of 180 days. (NOTE: If your financial institution registered for the live program, you already have free access to the archvied version for 180 days! Contact NorthLegal for information.)
How to Attend a Prerecorded Webinar | How to Obtain Handouts
To attend this NorthLegal Webinar, please do the following:
| • | Register. To register online using a credit card, visit the "Enroll Now" link shown in the box at the top of this page. To register by mail, call NorthLegal at 623.537.7150. |
| • | Check your email. Within moments after you complete the registration process you should receive two emails. One will be a receipt for the transaction and the other will contain a link and detailed instructions explaining how to use that link to attend the program. |
| • | Download the handout materials by clicking here. |
| • | Call NorthLegal to obtain the password to open the handout materials. |
Speaker: Eric North
Eric North, the primary speaker at the programs listed on this site, has represented the interests of credit unions and other financial institutions as an attorney with respect to litigation, compliance, governance, bankruptcy and collections matters since 1984. Eric has appeared in state and federal courts throughout the State of California, and has argued before the Ninth Circuit Court of Appeal.Eric is also a nationally recognized speaker on legal issues relating to consumer lending institutions, and has presented hundreds of programs on behalf of national, state and local leagues and associations from around the country.
Live program scheduling conflict?
No problem! Registration for a NorthLegal webinar automatically entitles you to watch it live AND to watch the archived version as many times as you like for 180 days!
If you or your staff can't make the live program, you still have plenty of time to watch at a time that is more convenient for you!