FLEX System: Bankruptcy and Legal Information Module

This document outlines the features and functionalities of the Bankruptcy and Legal Information module within the FLEX system, designed to assist credit union personnel in managing and tracking accounts involved in bankruptcy or other legal proceedings.

1. Overview

   The Bankruptcy and Legal Information module enables credit union staff to enter and store comprehensive information pertaining to bankruptcy or general legal matters for member accounts. This stored information is readily accessible and can be referenced in various sections of the FLEX system.

2. Accessing and Utilizing the Module

• Location: The Bankruptcy and Legal Information module can be found under the Collections category within the FLEX Main Menu.
• Access Points: Information entered into this module can be accessed through:
  • Transaction Entry/Inquiry
  • Collection Maintenance
• Viewing Existing Records: Upon opening the module, accounts that currently have bankruptcy or legal information entered will automatically appear on the screen.
• Searching for Specific Accounts: To search for a specific account, enter the account number in the designated account box.
• Adding New Records: To add new bankruptcy or legal information for an account, click the Add button.

3. Add/Edit Screen – Top Panel (Applies to All Tabs) The top panel of the Add/Edit screen contains key fields that apply across all information tabs:

• Account Bankrupt: Check this box to mark the member account as a bankrupt account within Transaction Entry.
• Case Number: Enter the bankruptcy case number as assigned by the court.
• Asset Case: Check this box to indicate that the account and suffix are filed as a Chapter 7 asset case.

4. Legal Tab

   This tab is dedicated to general legal information.

• Required Field: The Account Number is the only required field on this tab.
• Member Info:
  • Enter the account number and suffix (if applicable).
  • Enter relevant phone numbers for the member.
• Employer Info:
  • The Employer Name and Contact Phone Number listed in the Address Maintenance Employer Tab will automatically appear here.
• Legal Info: Enter the following dates and amounts:
  • Judgment date
  • Garnishment date
  • Settlement amount/date
  • Return date
• Trustee Info:
  • Enter the name of the court-appointed trustee.
  • Enter the trustee’s phone number.

5. Attorney Tab

   This tab allows for the entry of attorney contact details.

• Note: None of the fields on this tab are required and are for informational purposes only.
• Borrowers Attorney/Credit Union Attorney Info:
  • Enter contact information for the borrower’s attorney.
  • Enter contact information for the credit union’s attorney.
• Foreign: Check this box if the Borrower and/or Credit Union attorney has a foreign address.

6. Bankruptcy Tab

   This tab provides comprehensive details related to a bankruptcy filing.

• Note: None of the fields on this tab are required and are for informational purposes only.
• Details:
  • Filed By: Enter the name of the person that filed the bankruptcy.
  • Score: Enter the member’s bankruptcy score.
  • Chapter: Enter the bankruptcy chapter filed (e.g., Chapter 7, 13).
  • Court: Enter the name of the court where bankruptcy was filed.
  • Comment: Enter any additional comments regarding the bankruptcy.
  • Bankrupt: Check this box to indicate the member account is currently in bankruptcy status.
• Amounts:
  • Cramdown: Enter the negotiated cramdown amount.
  • Arrears: Enter the amount due in arrears.
  • Payoff: Enter the payoff amount.
• Dates:
  • Referred to Attorney: Enter the date the account was referred to an attorney.
  • Confirmation Hearing: Enter the scheduled date of the confirmation hearing.
  • Anticipated Discharge: Enter the anticipated discharge date for this specific bankruptcy item.
  • 341 Meeting: Enter the date of the 341 meeting.
  • Proof of Claim Filed: Enter the date a proof of claim was filed.
  • Confirmation Approved: Enter the date confirmation was approved.
  • Discharged: Enter the actual discharge date for this bankruptcy item.
  • Relief From Stay: Enter the date relief from stay action against the debtor or debtor’s property was approved.
  • Amended POC: Enter the date an amended proof of claim was filed.
  • MLS Filed: Enter the date a motion to strip a lien (MLS) was filed.
  • Reinstatement: Enter the date the loan is reinstated following a bankruptcy filing.
  • Stay of Action: Enter the date stay of action against a co-debtor was approved.
  • Reaffirmation: Enter the date the borrower reaffirmed the debt.
  • MLS Hearing: Enter the hearing date for motion to strip a lien.
  • Dismissed: Enter the date the bankruptcy is dismissed.