Collecting consumer debt is always a challenge – it’s even more of a challenge after the borrower has passed away! Who can and can’t you contact? Do you know what you can and can’t say? What recourse do you have? Who is liable for the debt? Aren’t the decedent’s assets supposed to be used to pay debts? Who can make that happen? What happens to your collateral?
To clarify matters, the FTC issued rules that affect consumer lenders’ attempts to collect debts owed by deceased borrowers. However, those rules do not govern all lenders. Whether or not they directly apply to you, violations may still be used against you! Join us to learn more about the FTC rules and other important laws and concepts that affect the way you collect decedents’ accounts.
When may you discuss the debt with someone who did not sign the credit agreement?
Difference between formal and informal estate administration, why it matters, and how to handle each
Options when decedents’ property is not used to pay their debts
When funds held on deposit may and may not be applied to a decedent’s unpaid debt
The financial institution’s rights regarding property pledged as collateral. What if the person who has it won’t release it?
The creditor’s rights when a relative or friend of the decedent has (or is living in) your collateral
Why some of a deceased borrower’s assets are beyond the reach of creditors
The Consumer Financial Protection Bureau’s role
Sample letters to assist in collecting decedents’ accounts
Electronic training log
Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is for collection officers, collection support staff, management, loan officers, and other lending personnel.
ABOUT THE PRESENTER – Eric North, JD, NorthLegal Training and Publications
Eric North has represented the interests of consumer lending institutions as an attorney for over twenty-five years. His practice includes the representation of consumer lending institutions in court proceedings as well as counseling regarding dispute resolution, compliance, and contractual matters to help avoid litigation when possible and prevail in litigation when necessary. He has appeared in cases in federal and state courts – primarily in California, where he is licensed to practice, and before the Ninth Circuit Court of Appeals.
Prior to becoming an attorney, Eric worked within the consumer finance industry in management, lending, collections, and operations. In addition to practicing law, Eric devotes a significant portion of his time providing training to help consumer-lending institutions and their attorneys understand and comply with the laws that govern them.
PLEASE NOTE: Your registration fee allows you to have one telephone connection. However, as many people as you like may listen from your office speaker phone. If you register for the webinar, your registration fee also includes one internet connection from a single computer terminal.
THREE REGISTRATION OPTIONS
1. LIVE WEBINAR
The LIVE WEBINAR option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone. Registrants receive a toll-free number and pass code that will allow entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, pin number, and handouts will be emailed to you prior to the broadcast. You will need the most current version of Adobe Reader available free at www.adobe.com.
2. ON-DEMAND WEB LINK** AND FREE CD ROM*
Can't attend the live webinar? The ON-DEMAND WEB LINK** is a recording of the live event including audio, visuals, and handouts. We even provide the presenter's email address so you may ask follow-up questions. Approximately 1 week prior to the webinar, you will receive an email with the web link. This web link can be viewed anytime 24/7, beginning 6 business days AFTER the webinar and will expire 6 months after the live program date. But there's more . . . AS AN ADDED BONUS, you will also receive a FREE audio/visual CD ROM.* The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts. Use the on-demand link or this "off-the-shelf" training program for those that could not attend the live seminar and for future training.
3. BOTH LIVE WEBINAR AND ON-DEMAND WEB LINK** (INCLUDES FREE CD-ROM*) Includes options 1 and 2 above
*CD Rom for PC use only
**All materials are subject to copyright and intended for your credit union's use only.
NEW! Listen on your iPad, iPhone, or Android. Instructions will be emailed to you with the on-demand link.
$199.00 Webinar per connection
$199.00 Archived On-Demand Web Link & Free CD ROM
$249.00 Both Live Webinar & Archived On-Demand Web Link & Free CD ROM
TIME: 3:00 p.m. - 4:30 p.m.
To register and pay by check, email Mary Zelinsky at firstname.lastname@example.org and your credit union will be invoiced. To register and pay online, click here.