Welcome to LawShelf’s video-course on Debtor and Creditor Law. This course focuses on the relationships between debtors and creditors and the many state and federal laws that seek to protect the interests of both sides. This is a beginner-level course and no prior knowledge of law is required.
Our opening module paints the landscape of debtor-creditor law and the rights and duties of both parties. The module also introduces various torts that sometimes apply to the collections process. The module also introduces assignments for the benefits of creditors and debt workouts.
Module 2 transitions to state laws that apply to the relationship. We’ll discuss liens that are or can be created by state law, including equitable liens, mechanic’s leans and judgment liens. We’ll also discuss the rules of fraudulent conveyances, which are transfers that try to nullify the abilities of creditors to collect debts and are voidable under state law.
Module 3 looks at the federal laws involved in debtor-creditor relationships. These are mostly for the protection of debtors and include the Fair Debt Collections Practices Act and the Fair Credit Reporting Act. We’ll also look at the roles of federal agencies, such as the Federal Trade Commission and Consumer Financial Protection Bureau, in enforcing these rules and protecting people from unfair collections practices.
Modules 4 and 5 discuss collections actions. Module 4 focuses on pre-judgment actions and module 5 looks at post-judgment collections. Pre-judgment collection options include repossession, attachment garnishment, replevin and receivership. Module 5 also looks at (post-judgment) garnishment and looks at judgment liens and attachments. We’ll also look at an example of a series of state rules regarding garnishments.
This course should give the reader an overview of debtor-creditor law and serve as an excellent complement to our basics of bankruptcy course as a comprehensive series related to debtors and creditors.