Keep your losses to a minimum with specific guidance just for credit unions.

Bankruptcy Guide for Credit Unions explains all the legal issues and procedures in a bankruptcy proceeding. It gives you checklists of the actions you need to take, gives you all the forms you need with explanations on how to use them, and gives you sample letters and documents you can easily adapt to specific cases. Step-by-step we show you how to protect your position:

• Preventive actions: take certain steps early to identify and address problem loans and members with credit problems. Early intervention can prevent a bankruptcy filing later. We include checklists of actions that should be taken when the bank learns of its borrower's filing.
• Minimize and prevent loss: make sure your loans are properly documented and secured up front, and know the steps you need to take to ensure your credit union gets its fair share of the bankruptcy estate proceedings.
• Avoid legal pitfalls: learn about actions that must not be taken against a borrower who has filed for bankruptcy.
• Know what to do in court: while working with your attorney, you'll keep costs down and get better results if you know the steps that need to be taken, when to take them, and what you should never do.
• Tips from relevant case law: see how the courts are interpreting legal issues related to bankruptcy filings—we give you information and guidance, in nontechnical language, using actual bankruptcy cases that provide examples of what a lender should do to better protect its interests during the case.
• Keep current: you'll receive updates on approval to help you keep current with the latest legislation, case law, and best practices and procedures as they evolve.

If your borrowers end up in bankruptcy court, this manual can save you some of the time you would otherwise spend "learning the ropes" from your attorney. It does not replace your legal counsel, but it supplements your knowledge and gives you a roadmap of the process.

Topics include:

• Negative equity financing
• Lender liability
• Material misstatements in a large percentage of bankruptcies
• The new reaffirmation agreement cover sheet
• Retaining repossessed collateral in a Chapter 13 case
• Mortgage fraud, other financial scams and bankruptcy

You'll get updates on new legislation, case law, and best practices and procedures. With your paid subscription you’ll receive a CONVENIENT COMPANION CD that not only includes the full text of the manual, but also copies of the most relevant official forms and other material.

Highlights of Our Latest Update How to Use This Manual Table of Contents
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About David A. Reed

David A. Reed is an attorney, author, consultant, and nationally recognized speaker that is a partner with the law firm of Reed & Jolly, PLLC. He is also the founder of CU Doctor, a full service credit union consulting practice. Through CU Doctor, Mr. Reed provides guidance to credit unions concerning a variety of matters, including the establishment and revision of credit union policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters, and corporate governance. His engaging speaking style has garnered him status as a regular lecturer nationwide on topics such as regulatory compliance, consumer lending, bankruptcy, and collections. And, he offers facilitation services and a full range of on-site training programs that can be delivered to the board, executive team, managers, or frontline staff.

A former bankruptcy attorney and Vice President and General Counsel of a large credit union, Mr. Reed is particularly noted as an expert in the areas of bankruptcy and collections. He has been selected to train NCUA Field Examination and Audit Staff on Bankruptcy matters and serves as editor of several industry manuals, including Practical Guide to Bankruptcy: Protecting the Bank Against Bankruptcy-Related Losses, Collections Manual for Credit Unions; Debt Collection Manual: Regulations, Law and Best Practices; Debt Collection for Corporations, and Bankruptcy Guide for Credit Unions.

Mr. Reed received his undergraduate degree from Virginia Tech in 1986 and his Juris Doctorate from George Mason University School of Law in 1989. Formerly, Mr. Reed was Vice President and General Counsel for Apple Federal Credit Union in Fairfax, Virginia. He is a Certified Compliance Officer. He resides in Fairfax, Virginia with his wife Diane and their twin daughters. Also a member of the credit union family, his wife, Diane, is the VP of Administration for Arlington Virginia Federal Credit Union. See all works by Mr. Reed