Debtor and Creditor Law

Debtor and Creditor Law


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.

Best of luck and we welcome your feedback.

What is a video-course?

A LawShelf video-course is an in-depth series of presentations on a discreet legal topic. LawShelf video-courses focus on practical legal information and applications and are each designed to familiarize the viewer with a legal topic quickly and efficiently.

Who should take a video-course?

Our video courses are designed for professionals such as attorneys, paralegals, corporate officers and financial professionals, as well as laypeople looking to deepen their knowledge of particular areas of law. The courses allow you to acquire the specific knowledge and skills that you need without the expense and time commitment of going “back to school” for a degree. 

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Video courses are divided into 5 or 6 modules.  Each module contains a video lesson (usually about 15 minutes long) and a series of self-test questions that you can use to practice and make sure that you understand the material.

How do I complete a video-course?

To complete a video-course, you must pass a 10-question multiple-choice examination by scoring 70% or higher.  The questions on the exam are randomly selected from the self-test question sets for the various modules. You can retake an exam as many times as you need to, though you will not get the same questions each time since the questions are drawn from an exam bank.

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No. A LawShelf subscription enables you to access any and all LawShelf content, including all video-courses. You can take courses as quickly or slowly as your time allows.

Do I receive any recognition for completing a video-course?

Once you complete the course by passing the final exam, you will be awarded a digital badge to display as evidence of your training and accomplishment.

How will a digital badge help me? 

Modern educational trends are moving away from traditional classroom-based course completion models and towards skills-based education. Employers today care more about skills than ever before. LawShelf digital badges conform to the Open Badge standard and are verifiable records of your skills that can easily be shared online.

How long do I retain access to the course materials?

You retain access the modules and take the final exam as long as you are a subscriber to LawShelf.

Debtors and Creditors - Module 1 of 5

State Debtor-Creditor Laws - Module 2 of 5

Federal Laws and Agencies- Module 3 of 5

Prejudgment Collection Actions - Module 4 of 5

Post-Judgement Collections - Module 5 of 5

Final Exam only needs to be taken by those seeking to earn the Digital Badge credentials for this course.