Bankruptcy 103: Dealing with Nonbankrupt Coborrowers
A NorthLegal Webinar presented January 24, 2019
Duration: 1:53 hours:minutes
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| Cost | How to Attend | How to Obtain Handouts |  |
Most collectors know they may not attempt to collect a debt from a borrower who is in a pending bankruptcy; but what about coborrowers or others who are not part of the bankruptcy? The rules are different for Chapter 7 and Chapter 13 cases, but how much different are they?
Chapter 7 and Chapter 13 collectors should consider all sorts of questions before communicating with a coborrower who is not bankrupt: May you answer the coborrower's questions about the borrower's bankruptcy case? May you initiate communications to tell a coborrower about a bankruptcy as long as you don't ask for payment? Does the coborrower have a right to be kept informed about the debt and the bankruptcy? May you repossess collateral owned by a nonbankrupt coborrower? If you already have judgment, may you levy on assets or wages of a nonbankrupt coborrower? Does the purpose of the debt matter?
During this program, participants will learn:
- How the rules relating to Chapter 7 bankruptcies differ from Chapter 13.
- What you may—and may not—say to a coborrower of a Chapter 7 debtor.
- What you may—and may not—say to a coborrower of a Chapter 13 debtor.
- What you may tell a coborrower about a debtor's bankruptcy.
- When you are entitled as a matter of law to a court order permitting you to collect from a coborrower.
- Why a debtor's lawyer will sometimes agree to a court order permitting you to collect from a coborrower; you just have to ask.
- Whether you may repossess collateral owned by a coborrower or spouse.
- Whether you may enforce a prepetition judgment against a coborrower or spouse.
- Whether you may sue a coborrower and why that might not be a good idea even when it is allowed.
- What rights you have against a coborrower after the bankruptcy is over.
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 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 when it is more convenient for you!