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Written by Debra Lee Hovatter, Bankruptcy Fundamentals for the Financial Services Industry is designed for nonlawyer professionals who service consumer bankruptcy accounts for financial institutions, servicing companies, and debt collectors. It is a guide to understanding the bankruptcy process, the debtor's rights, and how bankruptcy affects a creditor's rights with respect to a consumer bankruptcy account.
Among the topics covered are the basics of bankruptcy, the attributes of the different chapters under which a consumer may seek protection, the automatic stay and discharge, reaffirmation, and avoiding liens in bankruptcy.
This handy primer complements a financial institution's policies and procedures, and can be a helpful guide for lawyers who do not practice in the bankruptcy arena, but want to understand the concepts.