Are you getting the most from the backend of your loan portfolio? "Out of sight, out of mind” shouldn’t describe your charged-off loans. Just because you declare a loan loss internally doesn’t mean there should be zero recovery. With a combination of in-house efforts, collection agencies, and law firms, there are many ways to find money in those "worthless” loans. All you need is a plan and the ability to manage it. This webinar will give you both! From the timing of charge off, to effective third-party placement details, to the science of tracking and comparing recovery results, this webinar explores the practical side of the forgotten art of charge-off recovery and examines innovative techniques to maximize the return.
Join collections expert David Reed as he reveals lessons learned from over 20 years of collections and bankruptcy experience. Now is NOT the time to maintain the status quo in the collections department.
- Exploring the timing of charge offs
- In-house versus out-sourced collections
- Agency or law firm – choosing the best placement option
- Tracking recoveries on charged-off loans
- Changing horses – account recall options
- TAKE-AWAY TOOLKIT
- Account placement worksheet
- The life of a charged-off loan
Who Should Attend?
The information in this session is designed for credit union executives, volunteers, CFOs, lending managers, collections managers, collections staff, and anyone interested in maximizing your return from charged-off loans. Attendance verification for CE credits provided upon request.
About the Presenter: David A. Reed, JD, Reed and Jolly, PLLC
Attorney, author, consultant, and nationally-recognized speaker, David Reed is a partner in the law firm of Reed and Jolly, PLLC. He provides guidance to financial institutions on establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters, and corporate governance. His engaging speaking style has made him a nationwide lecturer on regulatory compliance, consumer lending, bankruptcy, and collections. A former trial attorney and vice president and general counsel of a large credit union, David is particularly known as an expert in the areas of operations, bankruptcy, and collections. He has trained state and federal examination staff on numerous issues, including BSA, ID theft red flags, SAFE Act, third-party contract management, and bankruptcy. He also serves as editor of several industry manuals.
|Over $75 million
|$7 - 75 million
|Under $7 million
Cancellation Policy: Sorry, no cancellations are allowed after connecting instructions and handout materials are distributed to registrants. Substitutions are welcomed and encouraged.
Please note: The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.