On Demand Webinar

Bankruptcy 103: Dealing with Nonbankrupt Coborrowers
A NorthLegal Webinar presented January 18, 2024
Duration: 1:35 hrs:minutes

Cost | How to Attend | How to Obtain Handouts Register

May you call one borrower on a loan to ask for payment if a different borrower on the same loan is a debtor in a pending bankruptcy? Does the type of bankruptcy make a difference?

What about after the bankruptcy is over? What may you do to collect from a nonbankrupt coborrower and what does bankruptcy law prohibit you from doing?

Do privacy laws prohibit you from telling the nonbankrupt coborrower about the debtor's bankruptcy?

How should you report a nonbankrupt coborrower to consumer reporting agencies during a Chapter 13 case if payments are being made under the plan? Is the nobankrupt coborrower "current?" Would that be deceptive to any creditor or landlord considering making a loan or renting property to the coborrower?

Communicating with a nonbankrupt coborrower during and after bankruptcy requires careful thought, which, in turn, requires an understanding of complex laws. On January 18, 2024, creditors' rights attorney Eric North will discuss what those laws are and how they apply to your financial institution. Participants will learn —

  • May you return a call to a nonbankrupt codebtor during a Chapter 13 case? What may (and what shouldn't) you say?
  • Does a nonbankrupt codebtor have a right to be kept informed about the debt and the bankruptcy?
  • May you repossess collateral owned by a nonbankrupt coborrower?
  • If you have judgment, may you levy on assets or wages of a nonbankrupt coborrower?
  • May you sue a nonbankrupt coborrower during a bankruptcy? If so, when might that still not be a good idea?
  • When is the court required to give you permission to collect from a nonbankrupt coborrower during a Chapter 13 bankruptcy?
  • How can you sometimes save the time and expense of getting a court order for permission to collect from a nonbankruptcy coborrower?
  • What may you do, and what should you not do, to collect from a nonbankrupt coborrower after the bankruptcy is over?
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    Register

    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.
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    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!