This program will focus on the issues both directly and indirectly related to the repossession, foreclosure and debt collection process and the impact of bankruptcy on these activities. The program will include a step by step walk-through of the collection process from default by the borrower through repossession, sale and collection of the anticipated deficiency. The program will also highlight the many pitfalls that can trap the uninformed along the way.
- Nature of the secured transaction - brief overview
- Foreclosure of security interest
- Writs of attachments in California
- Collection of the deficiency
- Bankruptcy considerations
- The attendee will be able to discuss foreclosure of security interest.
- The attendee will be able to identify bankruptcy considerations.
- The attendee will be able to review the nature of the secured transaction.
9:00 a.m. - 10:15 a.m.
I. Nature Of The Secured Transaction – Brief Overview
A. The Debt Collection Process
B. Fair Debt Collection Practice Act – Overview
C. Self Help Or Judicial Action
D. Claim And Delivery Actions In California
E. Rights Of Third Parties
III. Foreclosure Of Security Interest
A. Preparation Of The Collateral For Sale
B. Public Or Private Sale
C. Notices Of Sale
D. Publicity Of Sale To The General Public
10:15 a.m. - 10:30 a.m.
10:30 a.m. - 12:00 p.m.
III. Foreclosure Of Security Interest (Continued)
E. Conduct Of Sale
F. Application Of The Proceeds
G. Calculation Of The Deficiency And Transfer Statements
H. Effects Of Properly Conducted Sale
I. Effects Of Improperly Conducted Sale
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 2:15 p.m.
IV. Writs Of Attachments In California
A. Nature Of The Attachment Remedy
B. When Authorized
C. When Collateral Remains With The Debtor
D. Ex Parte Writs Of Attachment
E. Noticed Hearings
G. Levy Of Writ Of Attachment
H. Liability For Wrongful Attachment
2:15 p.m. - 2:30 p.m.
2:30 p.m. - 4:30 p.m.
V. Collection Of The Deficiency
VI. Bankruptcy Considerations
A. Automatic Stay
B. Property Of The Estate
C. Chapter 7 Liquidations
D. Chapter 11 Reorganizations
E. Chapter 13 Wage Earner Plans
F. Creditor Strategies
G. Emergency Relief