When you register for this session, you will receive a complimentary 4-Part ToolKit, which includes the following items:
- (1) The Cliff Notes: Bankruptcy Rules, Statutes, & Cases - easy-to-understand explanations about the most important sources of bankruptcy law
- (2) Bankruptcy Timeline, with references and instructions
- (3) Directions to access all U.S. bankruptcy court pleadings
- (4) Bankruptcy Agencies & Attorneys - contact information
See the "Topics" session below for more information on this invaluable Toolkit.
Bankruptcy isn’t anything a creditor should fear! Bankruptcies have for a long time been the bane of both creditors and debtors, but there’s no reason that should be. A Chapter 7 bankruptcy can actually be beneficial to a creditor, both during and after the bankruptcy, and as respects current and future obligations or transactions with the filing debtor.
A bankruptcy filing means more than simply a debtor trying to avoid paying some or all creditors. It means the debtor is disclosing more information about his or her circumstances than many creditors ever get access to: information about the debtor’s assets and obligations, other creditors, employers, transferred assets and expectations for the future, business interests, and more. It also means that the debtor likely has access to legal counsel who can serve as a knowledgeable intermediary for you, and that the debtor is likely to need credit and financial assistance in the future, while at the same time losing the ability to avoid future obligations.
This session is a cost-effective way to minimize the negative impact bankruptcies can have on your business, while providing potential ways to actually turn a chapter 7 into a profitable event for your institution, and arm you with the knowledge it will take to navigate this complex area of law either yourself or with minimal legal help – helping you avoid costly legal fees and harmful write-downs of loans and obligations.
Why learn about bankruptcy piecemeal, one case at a time, while paying a lawyer to do the work for you? After this seminar, you will know when a lawyer is advisable and how to determine if your lawyer is worth the money, and be able to do many of the steps on your own where allowed.
- Get an overview of how chapter 7 bankruptcies work including what you must do when one is filed, who is eligible, what debts might be affected (and which ones aren’t), what information must be provided, and the roles and powers of the various participants – from the debtor’s counsel to nonfiling spouses to the trustee’s office.
- Learn the options creditors have for
o Obtaining information from debtors,
o Challenging the automatic stay,
o Filing and proving up claims,
o Converting to a more beneficial form of bankruptcy,
o And even dismissing the entire bankruptcy.
- Gain an understanding of how and why debtors might reaffirm your obligation
- Master the reading of bankruptcy schedules to learn what options you might have to collect money owed from someone other than the debtor.
- Develop strategies for extending new credit to the debtors to help make up losses or maintain relationships.
In addition, you will receive the following Ch 7. Toolkit:
- A set of written materials that highlights, explains, and provides references to bankruptcy rules, statutes involved, and leading cases.
- A timeline for typical bankruptcies, including references to who must take which actions and the usual time limits for doing so, and instructions to assist in doing so.
- Information on how to access bankruptcy and federal court pleadings in any district in the United States.
- Contact information for agencies and attorneys who can assist you in navigating bankruptcy filings, and methods of assessing the competency and value of those lawyers.
Who Should Attend?
This informative session is designed for people who work with individual debtors with consumer obligations, or small-business debtors with unsecured or secured obligations, but anyone who works in collections or lending, or in creditor/debtor law, will benefit from this unique view of this much-misunderstood area of law.
You may train as many individuals as you like for one set price. There will be no travel costs, time lost from work and no one will be required to leave the institution.