This conference brings Kansas and Missouri credit unions together to learn from each other and from our speaker, collections and bankruptcy specialist, David Reed.
Collaborating with other credit unions for ideas and insights is a great way to stay a step ahead. Connect with your peers at this first ever, joint event!
Day 1: Collections
Wednesday, September 4, 2013
If your credit union’s collections process is solely reliant on a 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. 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
- Maximizing recoveries on charged off loans
- Agency vs. attorney placement
- 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
Day 2: Bankruptcy
Thursday, September 5, 2013
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.
- 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 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/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
Daily Session Schedule
8:00-9:00 a.m. Registration and Breakfast
9:00 a.m. Session Begins
Noon Group Lunch
4:00 p.m. Conclude
About the Presenter:
David Reed’s training philosophy is centered on the member service approach to effective collections. In his 24 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.
* Early bird discount will be applied after registration has been received.
Registration includes all materials, speaker sessions, lunch and refreshments.
If you have a dietary restriction, medical or physical condition requiring special attention, please advise us as you are registering online so we can make proper arrangements.
Cancellation Policy: There is no additional charge for substitutions at any time. Contact KCUA at firstname.lastname@example.org at least 14 days prior to the event for a full refund, minus a $100 administration fee. Substitutions are accepted anytime.
Kansas City Marriott Country Club Plaza
4445 Main Street
Kansas City, KS 64111
Rate: $124 per night
Reservation Deadline: August 9, 2013
Mention the MCUA or KCUA event to receive the discounted rate.
Contact Gina Evans at 800-362-2076, ext. 3010 or email@example.com