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How to Prepare for the Delinquency Tsunami
Wednesday, December 02, 2020, 10:00 AM - 11:30 AM EDT
Category: Events

Don’t let your credit union’s current delinquency numbers and low bankruptcy filings give you a false sense of security. Most experts agree there is a tidal wave of defaults coming your way!  High unemployment, new waves of layoffs and a fractured economy will not bring good news. It won’t be long before the stimulus money, modifications, forbearances and other pandemic rescue options are exhausted and the dormant delinquencies arise.   

Even during the best of times, collections is a very tricky proposition. An effective collections process must include sound methods for communicating with troubled members, resolving the delinquency, recovering collateral on defaulted loans and doing all of this while following an increasing variety of state and federal laws, rules and regulations. 

Join credit union attorney and collections guru David Reed for an exciting virtual training event as he highlights the latest techniques, tips and trends to maximize your collections function in the new world order.  

This session will cover: 

  • Conducting a Collections Inventory and Risk Assessment
  • New Methods for Scoring Default Risks
  • Mining for Member Service Opportunities
  • Appreciating Workout Options – From Consumer Loans to Real Estate
  • Refining Repossession and Foreclosure Processes

Contact: Katie Means