NAFCU's Bankruptcy Guide for Credit Unions

Author: David A. Reed
Format: 3-Ring Binder
Price: $499
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Keep your losses to a minimum with specific guidance just for credit unions.

When a member borrows from your credit union and then files for bankruptcy, every other member of your credit union pays for it. With this manual you'll be better prepared to fight for what's due your members - and win. Whether you do it yourself or have an attorney handle it, this comprehensive manual gives you credit union-specific, hands-on guidance.

This manual 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 take the right steps 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.
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.
Know what to do in court - whether you handle the process on your own or bring in legal help, 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.
Use relevant case law - see how the courts are interpreting legal issues related to bankruptcy filings.
Get state-specific guidance - the manual covers state bankruptcy law so you know what your state's requirements are.
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David A. Reed is an author, consultant and nationally recognized speaker. He received his undergraduate degree from Virginia Tech in 1986 and his Juris Doctorate from George Mason University School of Law in 1989. Formally, Mr. Reed was Vice President and General Counsel for Apple Federal Credit Union in Fairfax, Virginia. In his role as chief legal officer he established institutional legal policy, provided legal advice to the Credit Union concerning a variety of matters including the establishment and revision of Credit Union policies and procedures, organization compliance with federal regulations, contractual agreements, regulatory matters, and corporate governance. David has been selected to train NCUA Field Examination and Audit staff on Bankruptcy matters. He is an NCCO (NAFCU Certified Compliance Officer.

Mr. Reed currently serves as editor of several manuals including Sheshunoff’s Debt Collections Manual; and Sheshunoff’s Practical Guide to Bankruptcy.