Wednesday, October 11, 2017
9:00 am – 10:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
No credit union likes to do repossessions, but it may be the only way to collect on a loan. Making a mistake in the repossession process can result in your credit union losing its right to go against the debtor for a deficiency and mistakes can cause substantial damage to the credit union. This webinar will explain all aspects of the repossession process regarding non-real estate collateral, starting with the decision to repossess and ending with the sale of the collateral at a private or public sale. Learn the steps your credit union should take to properly repossess and dispose of collateral under UCC Article 9.
Continuing Education: Attendance verification for CE credits upon request
- Requirements of UCC Article 9
- Conducting self-help repossession
- Requirements for the notice of sale
- Aspects of a commercially reasonable sale
- What happens if the debtor files bankruptcy
- TAKE-AWAY TOOLKIT
- UCC Article 9 repossession checklist to ensure you don't forget a step in the repossession process
- Form notice of UCC foreclosure sale
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for all loan and collection personnel, including loan officers, loan operations, credit administration, managers, collectors, compliance officers, and attorneys.
PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.