Bankruptcy 104: After the Discharge
What Happens When the Bankruptcy is Over?
A NorthLegal Webinar presented February 15, 2024
Duration: 2:25 hrs:minutes
| Cost | How to Attend | How to Obtain Handouts |  |
Why do you fight bankruptcy cases? What happens if you don't fight them?
What does a bankruptcy "discharge" do to a debt? Does the debt go away? May the debtor still voluntarily pay it? What risks are involved when that happens?
Are all debts discharged if you don't fight back? (Hint: They aren't.)
What happens if the debtor still has the collateral but did not reaffirm? May you repossess? May you discuss payments? May you accept late payments? How should it be reported to credit bureaus?
What about mortgages and HELOCs? Are they discharged in bankruptcy? (Hint: Sometimes they are and sometimes they aren't.) If they become late, may you enter into workout agreements? May you rewrite them? What happens when a balloon payment becomes due after the bankruptcy is over?
If the debtor had a balance on a credit card when the bankruptcy was filed and continued to use the card and to pay, but did not reaffirm, is the balance collectible?
During this online training program, attorney Eric North provides answers to the questions above and will discuss:
- Which debts are and which debts are not discharged in Chapter 7 and Chapter 13 bankruptcy.
- What post-discharge actions are permitted by the Bankruptcy Code, and what actions can result in sanctions.
- Whether you may, may not, or are required to send periodic statements relating to a discharged debt. Does a "for informational purposes only" disclaimer help?
- What actions may and what actions shouldn't you take if a debtor who has elected to "retain and pay" without reaffirmation stops making payments?
- May you modify a discharged loan after bankruptcy? May you enter into workout agreements?
Just because the bankruptcy is over doesn't mean the relationship between your financial institution and the debtor is over. Often you will continue to do business for years after the discharge, but with a relationship that may have been changed significantly by the bankruptcy case.
NOTE: This program is intended only 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 six months! Contact NorthLegal for information.)
How to Attend an On Demand Webinar | How to Obtain Handouts
To attend this NorthLegal Webinar, please do the following:
| • | Register. To register online using a credit card, visit the "Register" link, 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 instructions explaining how to use that link to attend the program. |
| • | Download the handout materials using the link appearing in the confirmation email. The confirmation email also includes the password needed to open the materials. |
Speaker: Eric North
Eric North is an attorney who represents the interests of credit unions and other financial institutions respect to litigation, compliance, governance, bankruptcy and collections matters. 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!