In the current economic environment, both personal and business bankruptcies are expected to dramatically increase. Every banker should have a fundamental understanding of the U.S. Bankruptcy Code and your bank's rights and obligations thereunder.

This webinar will introduce you to the world of bankruptcy. It is designed for lenders and support staff with the goal of educating them on the fundamentals of both consumer and commercial bankruptcy law, including the new Small Business Reorganization Act of 2019, which went into effect February 19, 2020 and the temporary changes to the Bankruptcy Code under the COVID-19 stimulus package to expand relief to small businesses and individual debtors.

Practical information for daily use will be provided.What You'll Learn:

• Talk the talk: Bankruptcy terminology
The basics of the Bankruptcy Court system and the role of the U.S. Trustee's officeAn overview of the various chapters of the Bankruptcy Code (7, 9, 11, 12 and 13)The Small Business Reorganization Act of 2019Temporary Amendments to the Bankruptcy Code under the COVID-19 Stimulus Package
Setoffs and foreclosure sales: The automatic stay and what the bank can and cannot do after it goes into effectFiling a proof of claimSecured vs. Unsecured vs. Undersecured ClaimsExempt propertyWhat debts of an individual can and cannot be dischargedThe order or priority in which claims are paid in bankruptcyRules on Reaffirmation AgreementsPursuing guarantors when a borrower files bankruptcyRejection of leases and executory contracts: how they can affect the bank's collateral valuesBankruptcy timetable and special rules for single asset real estate cases