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Collection Law Update in Iowa

Learn the latest steps on Iowa's debt collection within commercial and agricultural areas.

Many creditors find it challenging to keep advised as to recent legal developments affecting collections. The difficulty in staying well-informed arises from the fact that collections practices touch upon so many areas of the law. Knowledge of traditional contract principles, secured transactions, banking practices, and the procedural requirements for litigating the collection of debt all have bearing on debt collection. This topic will cover numerous recent developments in Iowa collection law, and is designed to help those regularly engaging in commercial and agricultural debt collection in Iowa. You will learn steps to take to avoid turning debt collection into litigation, as well as learn how to litigate a collection suit more efficiently, should litigation become unavoidable.

Runtime: 104 minutes
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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Iowa Declines to Allow a Foreclosing Bank to Recover Under the Implied Warranty of Workmanlike Construction

  • No Court Outside of Iowa Has Extended the Implied Warranty of Workmanlike Construction to Allow Warranty Claims by Foreclosing Lenders
  • Courts Reason That Sophisticated Financial Institutions Do Not Have the Disparity of Bargaining Power and Expertise That Triggered the Need for Such a Remedy for Homeowners and Consumers
  • However, a Strongly Worded Dissent Argues That Bank's Alleged Sophistication Is a "Wholly Inadequate" Justification for Denying a Remedy for "Shoddy" Construction

Judgment Creditors Have Two Years to Rescind a Foreclosure Decree

  • This Issue Focuses on the Statutory Interpretation of When the "Mortgagee's Rights Become Unenforceable by Operation of Statute of Limitations"
  • The One Year Rule for Vacating or Modifying Judgments Did Not Apply
  • Rather, an Iowa Code Section Controlled Which Provides That Entered Judgments Are Void and Executions Shall Not Be Issued After Two Years From Judgment Entry

Remember That Payment Is a Defense That the Debtor Typically Must Prove

  • Under Common Law, Possession of a Note Raises a Rebuttable Presumption That the Note Was Not Paid
  • The Defense of Payment by the Borrower Is an Affirmative Defense
  • If the Creditor Possesses the Note, the Court Errs If the Creditor Is Required to Carry the Burden of Proving Nonpayment
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on January 12, 2018.

Call 1-866-352-9540 for further credit information.

  • IA CLE 1.5
     
  • Collection Law Update in Iowa is accredited under the regulations of the Iowa Supreme Court Commission on Continuing Legal Education. It is planned that this program will provide up to a maximum of 1.5 hour(s) of unmoderated credit towards the mandatory continuing legal education requirements under the Iowa rule. Please note: you can receive a maximum of 6 hours of unmoderated activities per calendar year.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Mollie Pawlosky

Mollie Pawlosky

Dickinson, Mackaman, Tyler & Hagen, P.C.

  • Shareholder with Dickinson Mackaman Tyler & Hagen, P.C.
  • Practice emphasizes all aspects of commercial litigation, collections and foreclosures
  • Selected for inclusion in the 2009-18 editions of Chambers USA: America’s Leading Lawyers for Business as a Leading Individual in the area of General Commercial Litigation for the state of Iowa
  • Selected for inclusion in the 2016-18 edition of Best Lawyers in America in Bankruptcy & Creditor Debtor Rights/Insolvency & Reorganization Law
  • Selected as one of the Des Moines Business Record’s Forty Under 40 honorees for 2010
  • Wrote several articles on civil procedure, commercial litigation and collections
  • J.D. degree, with honors, DePaul University Collect of Law
  • Can be contacted at 515-246-4504 or [email protected]
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Product ID: 401473
Published 2018
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