Learn how bankruptcy influences collection efforts and how to properly respond to a bankruptcy.
The filing of a bankruptcy always complicates and in many ways frustrates a creditor's collection efforts. However, there are steps that can be taken and strategies that can be employed to maximize the potential for recovery in such situations. Knowing the bankruptcy process, the types of claims, and certain advantages provided to creditors in the Bankruptcy Code are key in evaluating the best path. Moreover, preparing for a potential bankruptcy while in the process of settling a collection action can often help mitigate the possible clawback of settlement funds in a future bankruptcy. Knowledge of these issues can greatly benefit internal collections and outside collection counsel if and when a bankruptcy is filed.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Bankruptcy 101
- Understanding Primary Bankruptcy Processes
- Key Differences Between Chapter 11, Chapter 7 and Chapter 13 Cases
- New Subchapter 5 of Chapter 11
- Various Types of Creditor Claims and How to Assert Them
The Automatic Stay
- Understanding the Primary Effects of the Automatic Stay
- Who Does the Automatic Say Affect? Third Parties, Guarantors...?
- Seeking Relief From the Automatic Stay
Bankruptcy Discharge
- What Does a Bankruptcy Discharge Accomplish and Who Can Get a Discharge?
- Can a Creditor Collect/Execute After a Discharge?
- Exceptions to and Objecting to a Debtor's Discharge
- Exemptions
Strategies Prior to and in Bankruptcy
- Credit Enhancements and Bankruptcy Remote Collection Tools
- Proofs of Claim
- Involuntary Bankruptcy as a Collection Tool
Preferential Transfer Considerations
- Collecting in the Face of an Expected Bankruptcy Filing
- Settlement Agreement Provisions to Help Protect Against Avoidance of Settlement Payments
- Preference Defenses
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on April 26, 2024.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.0
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.0 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- IL CLE 1.0
- This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
- IN CLE 1.1
- This program has been approved by the Indiana Commission on Continuing Legal Education. Participating attorneys are eligible to receive up to 1.1 hours of Distance Education credit.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- MS CLE 1.0
- This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.0 credit hours.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
- NJ CLE 1.3
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
- NM CLE 1.0
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
- NV CLE 1.0
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- OH CLE 1.0
- This course has been approved by the Ohio Supreme Court Commission on Continuing Legal Education for 1.0 CLE credit hours. Please note: No more than twelve (12) hours of self-study CLE credit for any biennial reporting period may be earned by an Attorney or Judge under Regulation 409.2. To fulfill CLE requirements for self-study, web-based programs, you must complete 100% of the polling questions during the program. Your hours will be filed electronically within thirty (30) business days by Lorman Education Services provided you fulfilled 100% attendance and polling questions answered.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- TN CLE 1.02
- This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.02 hours of credit.
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.2
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.2 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- AK CLE 1.0
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- MO CLE 1.3
- NJ CLE 1.3
- NM CLE 1.0
- NY CLE 1.0 including Areas of Professional Practice 1
- VT CLE 1.0
- WV MCLE 1.3
- WY CLE 1.0
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Kirk B. Burkley, Esq.
Bernstein-Burkley, P.C.
- Managing partner of Bernstein-Burkley, P.C.
- Practice emphasizes all aspects of bankruptcy and restructuring, creditors’ rights, business and corporate transactions, litigation, real estate, and oil and gas
- Conducts regular seminars/live webinars and workshops on bankruptcy, creditors’ rights, and oil and gas
- Author of several publications related to the bankruptcy field, with work appearing in ABI Journal, Equipment Leasing Newsletter, Pennsylvania Association of Credit Managers Newsletter The Creditor, and more
- Emeritus Board Member of the American Board of Certification, past president of the American Board of Certification, past president of Turnaround Management Association, member of Allegheny County Bar Association, American Bankruptcy Institute
- J.D. degree, University of Pittsburgh School of Law; B.S. degree, Ohio University
- Can be contacted at [email protected] or 412-456-8108
Raymond P. Wendolowski Jr., Esq.
Bernstein-Burkley, P.C.
- Partner-in-charge of the creditors’ rights group at Bernstein-Burkley, P.C.
- Practice focuses primarily on commercial collection litigation
- Frequently speaks at webinars and conferences, including leading CLEs for Lorman Educational Services and the National Association of Credit Management
- Member of the Pennsylvania Bar Association and Allegheny Bar Association
- J.D. degree, associate editor of the Tax Review, University of Pittsburgh, School of Law; while completing J.D. degree, completed a legal intern externship at the City of Pittsburgh Zoning Board of Adjustment; B.A. degree in communications, University of Scranton
- Can be contacted at [email protected] or 412-456-8119
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
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