Handling Deposit Accounts of Bankrupt
Consumers
A NorthLegal
Webinar presented Thursday, December 15, 2011
(Approximately 2 hr: 35 min including Q&A)
Cost/Registration | Regions Affected | How
to Attend a Webinar
Enroll Now
Handout Materials
Further information, answers to frequently asked questions, and sample letters may be found by clicking the "Post-Program Information" link, above. The password is the same as the one given to open the materials.
What are a financial institution's*rights and responsibilities when a depositor files for bankruptcy? **
If the debtor does not owe money to you and has funds on deposit, what should you do with the funds? Let the debtor have them? Turn them over to the trustee? (What if the trustee doesn't appear to want them?) Freeze them until you receive a court order? The answer -- and your potential liability for getting it wrong -- may surprise you!
What if the debtor does owe money to your financial institution? May you apply funds in a savings, checking, share or share draft account to the debt? Do you need court permission first? (Answer: Not always!) May you place a hold on the funds and, if so, for how long?
During this online training program, attorney Eric North will discuss these issues and many more. Participants will learn—
| • | what the Bankruptcy Code has to say about handling deposit accounts, why so many depository institutions are getting it wrong, and how recent court decisions may lead to increased litigation. |
| • | what your options are for dealing with a deposit account when the debtor does not owe your institution money, and what risks you face. |
| • | what rights you have under other federal law, state law, and contract law, with respect to deposit accounts when the debtor does owe money to your institution, and how the Bankruptcy Code impacts those rights. |
| • | why you may not need relief from the automatic stay to take funds from deposit accounts in some Chapter 7 cases. |
* Although most of this program will provide information that is equally applicable to all types of consumer depository institutions, a portion will focus on statutes that govern credit unions.
** This program will include an in-depth discussion
of complex issues not usually discussed at NorthLegal webinars, seminars
or conferences. There will
be new, very important, information to share even with those who already have
a basic understanding of deposit account lien and offset rights!
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 $145.00 if paid by credit card or
$155.00 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 30 days.
Regions
Affected
This program will cover federal law applicable around the country.
How
to Attend a Webinar
To attend this NorthLegal Webinar, please do the following:
| • | Register. To register online using a credit card, visit the "Enroll Now" link shown above. 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 the "Handout" link shown above. |
| • | Call NorthLegal to obtain the password to open the handout materials. |
» NorthLegal Bankruptcy Conference
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.
Webinar scheduling conflict? No problem. Now if you register for a NorthLegal Webinar before the program begins entitles you to watch it live AND to watch the archived version as many times as you like for 30 days! If you can't make the live program, you still have plenty of time to watch at a time that is more convenient for you!