Wednesday, November 12, 2014
10:00 am – 11:30 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
A judgment lien allows your credit union to force a sale of the debtor’s property in certain situations and to apply the sale proceeds to pay the debt owed to your credit union. A judgment lien can be an effective collection tool whether your loan is unsecured or was secured but there is a deficiency. To obtain a judgment lien, your credit union must first obtain a judgment against your debtor by filing a legal proceeding in court, which will require engaging an attorney. Once a judgment is issued by the court, your credit union must attach its judgment to the debtor’s property. However, some of the debtor’s property is exempt from attachment. Before any of the attached property can be sold, your credit union must receive authorization from the court. This webinar will explain the legal process involved in obtaining, securing, and foreclosing judgment liens.
Continuing Education: Attendance verification for CE credits upon request
- Differences between UCC and judgment liens
- How to obtain a judgment lien
- How to attach the debtor’s property by a judgment lien
- How to foreclose on the attached property
- Property that is exempt from a judgment lien
- How bankruptcy can defeat a judgment lien
- TAKE-AWAY TOOLKIT
- 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 loan officers, loan operations personnel, collection staff, managers, compliance officers, and attorneys.
Webinar content is subject to copyright and intended for your individual credit union’s use only.
MEET THE PRESENTER
Spencer Fane Britt & Browne LLP