This series will provide the broad knowledge needed to make informed, effective decisions about the legalities, compliance issues, and best practices for consumer debt collections.
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If you have borrowers at risk of default, this series is for you. When a loan becomes delinquent, it is important for loan officers and loss-mitigation specialists to understand all available mitigation options. Whether it's the early stages of a delinquent loan with a cooperative borrower or a bankruptcy notice, this series will provide the knowledge needed to make informed, effective decisions about the best approach and how to avoid the liabilities inherent in the collection process.
- Your Borrower Filed Bankruptcy, Now What?
- Repossession Practices, Compliance & Limitations
- Effective Debt Collection Techniques & Strategies
- 20 Common Mistakes in Consumer Collections
Session Dates & Descriptions
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This is the day every lender dreads – the day you receive notice that your borrower filed bankruptcy. Now what? For a lender, the consumer bankruptcy process is complicated, time-consuming, and expensive. Many lenders waste time and money handling bankruptcies because they don't understand the available options. This webinar will explain the actions that must be taken to protect your financial institution's interests, and the actions that are prohibited. It will focus on the basics, but will also address more advanced bankruptcy concepts such as fraudulent transfers, preference payments, cram-downs, and reaffirmation agreements.
No lender likes to do repossessions, but it may be the only way to collect on a loan. Making a mistake in the repossession process can result in losing the right to pursue the debtor for a deficiency and cause substantial damage to your institution. This webinar will explain all aspects of the repossession process regarding non-real estate collateral, starting with the decision to repossess and ending with the disposition of the collateral at a private or public sale. Learn the steps to properly repossess and dispose of collateral under UCC Article 9.
In today's lending environment your institution must be able to merge traditional collection methodologies with innovative communication techniques to create the most effective recovery process possible. Much has happened over the last few years that directly impacts your collections department. From improving collection calls to using the full potential of emerging technologies, this informative session will sharpen your collection skills and better position you to assist troubled borrowers and maximize recovery.
Consumer debt collection remains a major source of complaints, lawsuits, and enforcement actions against financial institutions. There are numerous debt collection laws and regulations – and numerous opportunities for errors. Borrowers, their attorneys, and regulators are closely monitoring collection practices. Therefore, it's important to understand and implement proper collection procedures to avoid liability. This webinar will explain the most common consumer collection mistakes and how to reduce your institution's liability risk.