ACUIA Webinar - Collection Pitfalls

ACUIA Webinar - Collection Pitfalls

Wednesday November 14, 2018

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There are several issues like 1099s where regulatory compliance concerns and collections meet. When you talk about 1099s, you mostly talk about the determination whether or not the CU should file it. Understanding why you have to file the form in the first place is essential in the process to your determination regarding whether to file.

The next big idea that we will cover relates to the identifiable events. The IRS lists identifiable events that will trigger your need to file this form, and last year, one of these identifiable events was removed from the list. Some of these events are self-explanatory, but a couple of them require a closer, more in-depth review so that we can get a complete understanding of them. That is the major goal of this webinar: to get you very comfortable with these identifiable events. If you can master these identifiable events, you will be able to handle future questions regarding 1099s.

People always ask me about filing a 1099 and later collecting on the account. Can you do that? We will cover this unknown as well, and review some IRS guidance on the topic. Finally, 1099-As arise when you are foreclosing. Sometimes you can get by with just filing a 1099-C, but sometimes you have to file a 1099-A one year, and a 1099-C the next year on the same mortgage loan. So we will be sure to sort all of that out as well.

Please join us for all of this interesting information; we would love for you to join in and participate!

About the Presenter

Christy Curtis Jones is an attorney with the law firm of Sherpy & Jones, P.A. She graduated with honors from the College of Charleston and received her J.D. from USC School of Law. Christy was an Associate Articles Editor for the South Carolina Law Review and a member of the Order of the Wig & Robe. Ms. Jones has served as an adjunct professor at USC School of Law, teaching legal writing to first year students. She currently concentrates her practice in the areas of creditor/debtor rights, bankruptcy, collections, and foreclosure. Ms. Jones is a member of the South Carolina Bar Association, South Carolina Bankruptcy Law Association, and is admitted to practice before the South Carolina Federal Court, District of South Carolina. She is a regular speaker at multiple credit union leagues and conducts training for CUNA’s National Collections and Bankruptcy Conference.

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Event Date: 
2018-11-14T00:00:00
Event Type: