Collections and Bankruptcy Process Workshop: Maximizing Recoveries and Avoiding Landmines
May 14 at 9:00 am – 4:00 pm
SOLD OUT!
Delinquencies are rising, household finances are under increasing strain, and credit unions are feeling the impact across consumer loan portfolios.
Persistent inflation, higher everyday costs, and stretched borrower cash flow are translating into missed payments, harder workouts, and more complex bankruptcy cases. At the same time, NCUA examiners are signaling heightened expectations around credit risk management, collections practices, documentation, and bankruptcy programs. From improving your collections calls to understanding your rights in bankruptcy, this informative and interactive session is sure to have something for you! It is never too late to sharpen your collections skills and better position your credit union to assist troubled members who want to work with you and maximize the recovery from everyone else.
Are you keeping up with all the available technology and analytics available at your credit union? This often-overlooked operational area is at the unfortunate crossroads of member service and compliance risk and this creates the need to be continually looking for ways to improve our performance while limiting risk. Very few other areas have undergone a greater regulatory transformation than collections. At the heart of much of the increasing risks are not just regulators and examiners, but the current role played by consumer protection attorneys. These new players wield the Bankruptcy Code, state consumer protection laws, Fair Credit Reporting Act, Fair Debt Collections Practices Act and threats of UDAAP violations as weapons against credit unions.
Join ACU, OCUL, credit union attorney and collections consultant David Reed as he highlights the latest techniques, tips and trends to maximize your collections function. The event includes sample checklists and ample time to answer your questions and facilitate group discussion.
The session will cover:
Perfecting Your Collections Process
- Defining Key Collections Factors
- Auto and Credit Card Collections Tips
- Perfecting Your Collections Call
- Maximizing Analytics in the Collections Process
- Leveraging Readily Available Technology (From Texting to ChatBots)
- Effectively Utilizing Collections Agencies and Law Firm
David Reed’s training philosophy is centered on the member service approach to effective collections. In his 35 plus years of law practice he has been a bankruptcy and collections attorney for debtors AND credit unions. When he “saw the light”, he went to work for a credit union and became a collections manager AND then general counsel! He may be the only attorney training credit unions today who has seen collections and bankruptcy from both the members’ and credit unions’ perspectives
