Franklin Drake, Esq.
Frank Drake concentrates his practice in the areas of creditors’ rights, creditors’ bankruptcy, and commercial litigation. Frank has worked with credit unions, banking and financial institutions, consumer and commercial lenders, and student loan agencies to enforce contracts, minimize losses, and fight fraud. As federal regulatory compliance has become increasingly complex, he also assists lenders with difficult compliance issues.
He has more than 30 years of legal experience. He was first admitted to practice law in Kentucky in 1978. Since then he has been admitted to practice in North Carolina and West Virginia. In Kentucky he was active in drafting statutory law on judgments and garnishments, the design and use of that state’s judgment execution forms, and policies and procedures concerning foreign judgment registration and land records docketing.
Frank has taught classes on bankruptcy and commercial law for the Indiana Bankers Association at Butler University, the National Association of State-Chartered Credit Union Supervisors and various states’ Credit Union Leagues. He also served as speaker for several student loan lending agencies, credit unions, and state and local bar associations. Additionally, he has held compliance seminars for his clients to update them on the ever-changing creditors laws.
Frank served as Mayor Pro Tem of Wake Forest, NC and as Ex Officio Member of its Fire Department Board of Directors. He is actively involved in his community’s efforts to preserve and restore historic sites and homes, and he is an accomplished cabinetmaker.
Areas of Practice
- Business Litigation
- Commercial Creditor Bankruptcy
- Creditors’ Rights and Collections
- North Carolina State Bar
- Kentucky State Bar
- West Virginia State Bar
- J.D., University of North Carolina at Chapel Hill, 1978
- B.A., with honors, University of North Carolina at Chapel Hill, 1975
- Certified as a Bank Secrecy Act Compliance Specialist by the Credit Union National Association (“CUNA”)
- North Carolina Bar Association
- Kentucky Bar Association
- West Virginia Bar Association
- Wake Forest Town Commissioner, 2005-2013
- Wake Forest Municipal Comprehensive Planning Committee
- Wake Forest Fire Department Board of Directors
- National Association of State-Chartered Credit Union Supervisors
- The Rapson Rule and The End of “Sweetheart Sales”, Legal Insights, (May 2008)
- Redemption Funding and the Credit Union, Legal Insights, (October 2005)
- The Legal Brief: When A Mechanic’s Lien Becomes Extortion (December 2005)