Live Webinar, Wednesday February 19, 2025
Are “cross-collateral clauses” enforceable? Should you have them and use them, or should you avoid them?
They are the subject of misunderstandings and wildly conflicting opinions among lawyers and even courts—but, meanwhile, consumer financial institutions across the country still successfully use cross-collateral clauses to collect hundreds of thousands of dollars each year!
What exactly are cross-collateral clauses anyway? How are they different from “cross-default” clauses? How are they used in real life situations? What does the law really say about them? How can you set your financial institution up for success if you are going to use them?
During this program, attorney Eric North will talk with participants regarding:
• What the laws that govern the use of cross-collateral clauses actually say.
• What courts have said about cross-collateral clauses, why some courts don’t like them, and what you can do to address their concerns while still reaping the benefit of the clauses.
• How uninformed, improper or careless use of a cross-collateral clause can get your financial institution in serious trouble.
• How to tell a good cross-collateral clause from a bad cross-collateral clause (and how to make your clause a good one).
• Mistakes your financial institution can make that may cause you to lose the benefit of a perfectly good cross-collateral clause.
• Why it is important to have the support of management before including cross-collateral clauses in your documents and before using them.
• How to properly and effectively use your financial institution’s cross-collateral clauses.
Join attorney Eric North and consumer financial institutions from across the country to learn what the law really says!
Live Webinar, Wednesday February 19, 2025
10:00 PST | 11:00 MST
12:00 CST | 1:00 EST
Scheduling problem? $175 now for live event and six months access to archived program. $190 after live event ends for six months access to archived program.
For more information, call NorthLegal at 623.537.7150.
NorthLegal Training and Publications | 5115 N. Dysart Rd, No. 202-500 | Litchfield Park, AZ 85340 US
Drafting and Enforcing Cross-Collateral Clauses – Drafting and Enforcing Cross-Collateral Clauses – Drafting and Enforcing Cross-Collateral Clauses
Drafting and Enforcing Cross-Collateral Clauses – Credit Union Collections – Credit Union Collectors – Delinquency – Northlegal – Northlegal
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