1. Welcome to Seminar #1 Clap if you are ready to have a great semester!!!!!!!

2. Hello Everyone! Welcome to seminar #1 of Bankruptcy Law!! Seminar #1

3. Call me Adam (please) Like I mentioned in my Welcome message to everyone – my name is Adam Pincus – but please call me Adam.

4. Special Guests tonite are: President Obama & Senator John Boehner We spoke earlier today on a conference call and they told me they need to “brush up” on Bankruptcy Law – since the United States has been dealing with Debt issues (before raising the debt ceiling). So please be nice to them if they log into the seminar.

5. I really like this instructor – Adam seems pretty cool!! I have been teaching at Kaplan for over 8 years -- and really enjoy teaching online! That being said, I want everyone to know that communication is very very important….if you need extra time on an assignment -- then let me know! If you don’t really understand something and need it clarified -- then let me know!! I am here to help you guys – so please do not be shy about asking for help!

6. Welcome to PA-261 My name is Adam Pincus My contact information is: 610-745-7653 (call or text me) apincus@kaplan.edu I will get back to you very quickly – so DO NOT BE SHY about reaching out to me with questions. I am here to help! The syllabus is listed on the course website – so check it out when you get a minute.

7. I have been teaching for close to 5 years -- and I have taught this course several times during my 8 years at Kaplan – AND it is an excellent class AND it will give you very good working knowledge of Bankruptcy. We will cover the 3 main types of Bankruptcies – Chapter 7 – Chapter 11 – and Chapter 13. We will also discuss the new Bankruptcy Laws that went into effect at the end of 2005.

8. The 3 main types of Bankruptcy are: A Chapter 7 is a liquidation proceeding. A Chapter 11 is a business re-organization. A Chapter 13 is a consumer re-organiztion.

9. Here is a breakdown of our assignments for this term: Week 1: Discussion Board, Quiz, Seminar, Short Paper, & Intro. postings Week 2: Discussion Board, Quiz, Seminar, & Demand Letter Week 3: Discussion Board, Quiz, Seminar, & Short Paper #2 (pros & cons of Bankruptcy) Week 4: Discussion Board, Quiz, Seminar Week 5: Midterm Essay paper (no seminar, quiz, or Discussion Board). Week 6: Discussion Board, Quiz, Seminar Week 7: Discussion Board, Quiz, Seminar Week 8: Discussion Board, Quiz, Seminar, & Final Project Week 9: Discussion Board, Quiz, Seminar, & Short Paper (exemptions) Week 10: Catch-up Week!

10. For Week #1 Week 1: Discussion Board, Quiz, Seminar, Short Paper, & Intro. postings FOR THE SHORT PAPER: Short Paper: Creditors and Debtors Write a short paper (no more than 3 pages) describing the rights of creditors and the remedies of debtors. Make sure you note the similarities and differences. After the law changed in 2005, does the law favor creditors or debtors? So discuss the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA).

11. I generally like to start off each seminar by asking if you guys have any questions…. During our seminars….always feel free to ask questions and make comments. Just go ahead and ask your questions – you do not need to ask if you can ask a question! If I am unable to answer a question during a seminar….then I will get back to you by e-mail after the seminar is over…. Sometimes I just need to get through the material and cannot take the time to answer each question….AND sometimes questions come up that I am not sure about and have to research….

12. Also…. My style for conducting the seminars is pretty much the same every week. I like having a set style so you guys will know what to expect each week. I typically like to review the key terms for the week at the start of the seminar. Then I will cover the information from the textbook and online reading assignments.

13. AND one more thing Another thing that I like to do is….I like to post all of the Weekly material on the Class Message Board following the seminar….so if you miss something in the seminar or have a question….it will be posted on top of the Message Board….it is meant to serve as a good reference. I will also be attempting to post fun/useful video on the discussion board this term. This will be my first term doing “the video thing” so I will count on you guys for good/honest feedback about me videos! Thank you in advance

14. I will also send out weekly emails – reminding everyone about the assignments that are due for the week. One more thing before we get started – I posted information about Alternative Assignments….that is always a big question….I understand that everyone is busy and may need to miss a seminar from time to time. Obviously, it is better to attend every seminar, but if you are unable to attend a seminar….then I will ask you to write a 1-2 page paper discussing that week's seminar topics…. AND EACH WEEK (following the seminar) I will post the Weekly seminar PowerPoint to DOC SHARING so you guys can access it.

15. Any questions?

16. So is everyone ready to get started? :-) By the way, for the first three weeks….it appears that all of our assignments are from the web readings….there are no textbook readings until week #3….. I liked the material that was posted on the Classroom website for this week….so I am going to utilize that for tonite's seminar….it covers tonite’s material really well.

17. Have you ever owed money to someone? Have you ever been contacted by a collection agency about a debt? Have you ever worked for a company that has been sued? Have you ever received a late notice indicating that your payment was not made on time? Has anyone ever owed you money? Have you ever tried to collect on a debt through the courts? In a nutshell, these are the issues that make up debtor-creditor law.

18. Basically, Bankruptcy law comprises the rights you may legally exercise, either as a debtor (the one who owes money) or as a creditor (the one to whom money is owed).

19. What is the Role of the Paralegal as it pertains to these types of matters? When a person or business fails to make payments on a debt, the creditor usually has to take steps to collect the balance. Many people hire attorneys - and that is when the paralegals become involved.

20. The Paralegal will also: They draft demand letters to the debtor. They compose court documents, such as the summons, the complaint, judgments, and garnishment orders. They are often involved in protecting the interests of the debtor or the secured party. They organize the files and maintain contact with the client. They also assist in matters related to a trial.

21. Let’s review a basic situation relating to the Collection of a Debt…. The First Step….Debt collection usually begins when the creditor makes an oral or written request for payment. Example: Carrie Billings owns a small stationery store and owes $1,000 on her account to a greeting card supplier. The cards have been delivered, but after 30 days, the supplier has not received a payment. The card supplier can either call Billings and request payment of the $1,000 or send a memo from the bookkeeping department indicating that her account is over 30 days past due.

22. If the debtor doesn't respond to the request for payment, the creditor must take additional steps to collect the debt. The next step for the Greeting Card supplier is to hire a professional: either an attorney to send a collection letter to the debtor demanding payment or a collection agency to collect the debt. If the debt is less than $5,000, some jurisdictions also allow a case to be filed in small claims court, either by an attorney or a creditor.

23. All of these avenues have advantages and disadvantages. Attorneys have the ability to file suit and take the debtor to court. Collection agencies, while not usually involved in court proceedings, can threaten to harm a debtor's credit through computerized credit files. Both the attorney and the collection agency will usually work on a "contingency" basis, charging a fee based on a percent of the debt they collect.

24. An attorney will usually expect a fee in advance for services. The collection agency is generally paid a percentage of what it recovers.

25. What is the Fair Debt Collections Practices Act? The Fair Debt Collection Practices Act, often referred to as the "FDCPA", was passed by Congress in response to abusive conduct by collection agencies, and concern that the abuses were causing an increase in the filings of personal bankruptcies. The purpose of the Act is to provide guidelines for collection agencies which are seeking to collect legitimate debts, while providing protections and remedies for debtors.personal bankruptcies

26. More info. on the FDCPA…. In order to further regulate the conduct of creditors, the federal government enacted the Fair Debt Collection Practices Act (FDCPA) in 1978. One of the main purposes of the Act is to limit the contact that a creditor, through its collection agent, can have with individuals other than the debtor.

27. What Types of Debts Are Covered? The FDCPA applies to personal, family, and household debts, including debts associated with the purchase of a car, for medical care, for retail financing, for first and second mortgages, and for money owed on credit card accounts.

28. What Debt Collectors Are Covered By The Act? The act regulates the conduct of debt collectors: any person who regularly collects debts owed to others. This definition includes lawyers who perform debt collection services on a regular basis. Even where money is legitimately owed, a debt collector's conduct is restricted by this law. In-house collection agents are not ordinarily covered by the Act. For example, if you have a store credit card, and the store's own collection department contacts you, the FDCPA does not apply. However if the same store uses an outside collection agency to contact you in relation to that same debt, the outside agency's conduct is restricted by the FDCPA. Similarly, if the same store uses an in-house collection agent, but suggests to you that the collection is being performed by a third party, the FDCPA may apply to them as a result of that representation.

29. What Restrictions Are Imposed On Collection Agencies By The FDCPA? The FDCPA restricts debt collectors from engaging in conduct including the following: Contacting a third party who does not owe the debt, such as a relative, neighbor, or your employer. Co-signers to the debt, however, may be contacted by the debt collector; Threatening to refer your account to an attorney, harm your credit rating, repossession or garnishment, without actual intention of action on the threat. Please note that a debt collector may warn you of an actual impending intention to refer your case to an attorney or to report your debt to a credit agency. What they cannot do is use a false threat to try to intimidate you into paying;

30. Restrictions (continued): Making repeated telephone calls or telephone calls at unreasonable times. The act defines unreasonable times as contat before 8:00 AM or after 9:00 PM, unless you have given the debt collector permission to contact you during those hours; Placing telephone calls to an inconvenient place. For example, contacting you at work in violation of a policy by your employer that is known to the debt collector or following a request by you that they not contact you at work; When placing a telephone call to you at work, informing your employer of the purpose of the call, unless first asked by the employer; Using obscenity, racial slurs or insults;

31. AND a few more restrictions: Sending letters which appear to have come from a court; Seeking collection fees or interest charges not permitted by your contract or by state law; Requesting post-dated checks with the intention to prosecute if they bounce; Suing in courts far removed from your place of residence; Making certain false representations in association with efforts to collect the debt, including the false claim that the person contacting you in relation to the debt is an attorney, falsely claiming to have started a lawsuit, using a false name, or using stationery that is designed to look like an official court or government communication; Using false claims to collect information about the debtor, such as pretending to be conducting a survey; Threatening you with arrest if you do not pay the debt.

32. Who May A Debt Collector Contact About My Debt? If you have an attorney, you can instruct the debt collector to make all inquiries about the debt through your attorney. Once the debt collector has been instructed to make inquiries through your attorney, they should no longer make any direct contact with you. If you do not have an attorney, the debt collector may make only those inquiries necessary to determine where you live, what your phone number is, and where you work. If your current address is not known, the debt collector may be permitted to send a single letter to your last known employer inquiring about your present address. Ordinarily, other than your attorney, a debt collector may make only one inquiry about you with any given third party.

33. What Must The Debt Collector Tell You About The Debt? Within five days of their first contact with you, the debt collector must send you a written notice telling you: How much money you reportedly owe; The name of the creditor to whom the debt is owed; That unless you, within thirty days after receipt of the notice, dispute the validity of the debt or any portion thereof, the debt will be assumed valid by the debt collector; That if you dispute the debt in full or in part within that thirty day period, the debt collector will obtain verification of the debt and mail it to the consumer; and That upon your written request within the thirty day period, the debt collector will provide you with the name and address of the original creditor, if different from the current creditor. The first notice must also include a warning known as the "Mini- Miranda Warning", which must state that the communication is from a debt collector and that any information obtained may be used to collect the debt.

34. What If You Don't Want The Collection Agency To Contact You? If you wish the debt collector to stop contacting you, you must send the collection agency a written notice instructing them to stop. Once the collection agency receives that letter, they may contact you only one additional time to notify you that the collection agency or creditor intends to take a specific action in relation to the debt. Sending this type of notice does not resove the debt. For example, the creditor may file a lawsuit against you in order to collect the debt, even if you prohibit further contact by the collection agency.

35. What If You Dispute The Debt? If, within thirty days after receiving written notice of the debt from the debt collector, you send the collection agency a letter stating that you do not owe the money, the debt collector must stop contacting you. The notice must be in writing, and must be hand delivered or postmarked within thirty days of the first written notice from the debt collector. The debt collector may renew collection activities if you are sent proof of the debt, such as a copy of a bill for the amount claimed by the creditor.

36. What Remedies Are Available If The Debt Collector Violates The Law Under the Fair Debt Collection Practices Act, you have the right to sue a debt collector in state or federal court within one year from the date of the violation. If you win, you may recover damages in the amount of any losses you suffered as a result of the violation, plus an additional amount of up to $1,000.00. You may also be able to recover court costs and attorney fees. If the same debt collector has engaged in unlawful conduct with a number of consumers, it may be possible to find a lawyer who will file a class action lawsuit.

37. Where Can I Report Legal Violations By Debt Collectors? In most states, you may report the agency's conduct to the state Attorney General's office. You may also contact the Federal Trade Commission (FTC) if you have a problem with an out-of-state debt collection agency. Federal Trade Commission One Bowling Green Ste. 318 New York, NY 10004 1-877-382-4357 (877-FTC-HELP)