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Consumer Bankruptcy Filings Decrease, but CUs Still Need to Stay Abreast of Strategies to Help them Maximize Recovery; Minimize Losses
Thursday, June 12, 2014 6:45 AM

Consumer bankruptcy filings declined 11 percent to 82,474 from the May 2013 consumer filing total of 92,440, according to the American Bankruptcy Institute. And with a decline in commercial filings as well, total bankruptcy filings for the month of May represented a 3 percent decrease compared to the 88,137 total filings recorded in April 2014. While bankruptcy filings are down, Mike Blalack and Charles Williams and of Blalack & Wiliams, P.C, say it’s still important for credit unions to stay abreast of practical and proactive strategies to help them maximize recovery and minimize loss and risk.

Blalack and Williams are the presenters for the Cornerstone Credit Union League’s popular Bankruptcy and Collections seminars. These seminars will be offered Aug. 19-20, at the Credit Union House in Oklahoma City. Online registration has opened, and credit unions are encouraged to register early as seating is limited.

The Bankruptcy seminar is being offered Aug. 19 and the Collections seminar is being offered the following day.  Credit union professionals can attend one or both days.

The Bankruptcy seminar focuses on bankruptcy essentials for the new credit union bankruptcy officer, as well as current and emerging problems for credit unions in the bankruptcy courts. Automatic stay issues, payroll deductions, credit reporting, and other unintentional violations also be covered.

Collectors of all experience levels will benefit from the Collections seminar, which takes a practical new look at the legal issues surrounding credit union repossessions. This seminar will cover all of the key legal issues impacting delinquent vehicle loans, repossessions and the disposition of collateral.

For more information, including registration, please visit the Education section of Cornerstone’s website. If you have any questions, please contact Training & Events, at (469) 385-6630 or (800) 442-5762, ext. 6630

Educational grants are available through the Cornerstone Credit Union Foundation. To learn more, please visit www.cscuf.coop.