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Get ready to help both the member and the credit union weather this financial storm. Gain a thorough knowledge of bankruptcy and collections during this unique conference.

Meet the Instructor

David Reed’s training philosophy is centered on the member service approach to effective collections. In his 23 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.

Attorney, author, consultant and nationally recognized speaker, David A. Reed is a partner in the law firm of Reed and Jolly, PLLC and founder of CU Doctor, a full service credit union consulting practice. Mr. Reed provides guidance to credit unions concerning a variety of matters including the establishment and revision of credit union policies and procedures, organizational compliance, collections, regulatory matters and corporate governance. His engaging speaking style has garnered him status as a regular lecturer nationwide on topics such as regulatory compliance, consumer lending, bankruptcy and collections.

A former trial attorney and Vice President and General Counsel of a large credit union, Mr. Reed has been selected to train NCUA Field Examination and Audit Staff on numerous issues including ID Theft Red Flags, S.A.F.E Act, Third Party Contract Management and Bankruptcy matters. He also serves as editor of several industry manuals on legal matters.

Mr. Reed received his undergraduate degree from Virginia Tech in 1986 and his Juris Doctorate from George Mason University School of Law in 1989. He is a Certified Compliance Officer.


Day 1: Collections

If your credit union is focusing solely on the delinquency report to identify troubled members, you are ready for an upgrade! The current credit crunch is having a negative impact on many members, and credit unions are in a unique position to assist them.  

Every member who has a loan charged off made a final payment at some time. The problem is the credit union didn’t realize it was the last payment when it was made. This full-day workshop examines the nuts and bolts of an effective collections program and centers on maximizing collections efficiency and the role of member service.  

What Makes Members Pay?

  • The difference between being in trouble and being delinquent
  • Collections as a member service
  • Mapping out key DQ member contact points
  • Early identification of economically troubled members
  • Educating all staff on the collections function
  • Cross selling in a collections environment
  • Prioritizing collection efforts
  • Pre-contact preparation
  • Essential elements of a collections phone call
  • The art of closing the call

Creating Fool Proof Collections Processes

  • Compliance traps and regulatory requirements
  • Performing a collections 360° analysis and inventory
  • Creating effective staff incentives
  • Working with senior management and the board
  • Tracking effort AND results 
  • Building bridges within the credit union
  • Defining and celebrating successes
  • Dealing with difficult members
  • Overcoming common objections to payment
  • Identifying liability landmines

Special Collections: Skips, Repos, Real Estate

  • Repossession and foreclosure issues
  • Skip tracing resources and tips
  • Third party collections 
  • Agency vs. attorney placement
  • Basic premise for real estate collections
  • Modifications and workouts for real estate loans
  • NCUA guidance on loss mitigation, foreclosures and loan modifications
  • Troubled debt restructuring
  • Understanding and communicating recovery options
  • Maximizing the mortgage collections cycle
  • 1099-Cs
  • Foreclosures

Day 2: Bankruptcy

Consumer bankruptcy filings are at their highest rate in years and they’re still climbing! This session is designed for the credit union professional who is familiar with bankruptcy and wants to sharpen their skills in this debtor-friendly world. Examine the current state of consumer bankruptcy and see how it continues to impact credit unions. This full-day seminar will focus on advanced bankruptcy recovery and loss reduction concepts.   

This interactive program walks you through the complicated world of bankruptcy in an easy-to-understand (and retain) format.

Bankruptcy Fundamentals

  • Brief history and “intended purpose” of bankruptcy
  • Review of key bankruptcy terms and concepts
  • Overview of the bankruptcy process
  • Understanding your credit union’s value proposition 
  • Filing trends
  • Bankruptcy timeline: from first payment reminder to discharge

Operational Issues in Bankruptcy

  • What every credit union should be doing after it receives a bankruptcy notice
  • Bankruptcy checklists
  • Reaffirmation process and challenges
  • Limitations on cram down of automobile loans
  • Debtor’s statement of intent and the ride through problem
  • When to call your attorney
  • When to call their attorney
  • Bullet proof your proof of claim
  • Utilizing electronic services

Bankruptcy Recovery and Fraud Control

  • Leveraging the CU relationship to reduce losses
  • The right to set off 
  • Achieving relief from the automatic stay
  • The truth behind voluntary payments
  • Rights under the cross collateral clause
  • Motions to dismiss or convert under new means test
  • Fraud and preference actions
  • Meeting of creditors tips and tricks
  • Effective policies and procedures
  • Real estate loans in bankruptcy

Regulatory Compliance: Traps in the New Bankruptcy Order

  • News from the competition: examining bankruptcy attorneys’ marketing strategies
  • Fair Credit Reporting Act and FACT Act violations
  • Automatic stay violations
  • Denial of member services 
  • Post discharge injunction 

 

October 16th, 2012 8:00 AM   through   October 17th, 2012 4:00 PM
MCUA ST. LOUIS OFFICE
Training Room
2055 CRAIGSHIRE RD
SAINT LOUIS, MO 63146-4012
United States

Event Info

When

October 16th, 2012 8:00 AM   through   October 17th, 2012 4:00 PM

Where

MCUA ST. LOUIS OFFICE
Training Room
2055 CRAIGSHIRE RD
SAINT LOUIS, MO 63146-4012
United States

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