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What do tellers and loan officers need to know about bankruptcy?

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What do people outside of Collections need to know about bankruptcy?

Bankruptcy filing impacts almost every element of your relationship with the borrower. The automatic stay and post discharge injunctions grant vast protections to the debtor. Any attempt to collect a debt, including requesting payments, sending billing statements or delinquency notices, or reducing services, could result in a bankruptcy violation. From the teller line to the IT department and accounting to underwriting, almost everyone in the bank needs to understand the basics of bankruptcy in order to reduce the risk of violations.


Learn more about David Reed’s webinar

Bankruptcy Tune Up: 5 Things the Debtor’s Attorney Doesn’t Want You to Do

First published on 07/26/2020

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