Virtual Collections & Bankruptcy School

Virtual Lending School

Oct. 19th & Oct. 20th
Day 1 Registration - $199
Day 2 Registration - $199
Both Day Registration - $385

Partnering with:
Association of Vermont Credit Unions      Nebraska Credit Union League



David Reed, Esquire

David Reed’s recovery training philosophy is centered on the member service approach to effective collections. In his 30 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. Through Reed and Jolly, 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, security, contractual agreements, 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. And he offers facilitation services and a full range of on-site training programs that can be delivered to the Board, executive team, managers, or frontline staff.

A former trial attorney and Vice President and General Counsel of a large credit union, Mr. Reed is particularly noted as an expert in the areas of credit union operations, bankruptcy, and collections. He 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.

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. He resides in Fairfax, Virginia with his wife Diane.


Day 1 - Collections Training

Winning at Collections: The Best Defense is a Great Offense

If your credit union is focusing solely on the delinquency report to identify troubled members, you are ready for an upgrade! There was once a time when the collections function was one of the most underappreciated areas of the credit union. Guess what? That time is over! The current regulatory environment is having a negative impact on many of your members and credit unions are in a unique position to assist them, as long as they avoid the landmines along the way.

Is your collections department ready to help both the member and the credit union weather the storm? Every member who has their loan charged off made a final payment at some time. The problem is the credit union did not 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. From regulatory compliance to marketing campaigns to interdisciplinary collections involving all credit union staff to loan modifications and charge offs, this session reveals innovative ways to identify and communicate with troubled members before it is too late.

This session will cover:

What Makes Members Pay

Creating a Collections Mission Statement
Collections as a Member Service
Mapping Out Key DQ Member Contact Points
Educating all Staff on the Collections Function
Cross Selling in a Collection Environment
Prioritizing Collection Efforts
Pre-Contact Preparation
Essential Elements of a Collections Phone Call
The Art of Closing the Call

"Fool" Proofing Your Collections Processes

Compliance Traps and Regulatory Requirements
Performing a Collections 360 Analysis and Inventory
Creating Effevtive Staff Incentives
Working with Senior Management and the Board
Tracking Effort AND Results
Defining and Celebrating Successes
Dealing with Difficult Members
Overcoming the Most Common Objections to Payment
From Robo Calls to Repo Letters - Identifying Liability Landmines

Special Collections: From Skips to Repos to Real Estate

Repossession and Foreclosure Issues
Skip Tracing Resources and Tips
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 the Recovery Options
Maximizing Recoveries on Charged Off Loans
Agency vs. Attorney Placement


(Times are EST)

Part 1
9:00 a.m. - 12:00 p.m.

Lunch Break
12:00 p.m. - 1:00 p.m.

Part 2
1:00 p.m. - 4:00 p.m.

Day 2 - Bankruptcy Training

Effective Bankruptcy: Understanding the Process and Developing a Strategy

Bankruptcies continue to be a dark cloud on the credit union’s economic weather report, and it looks like the storm is just getting started. Rising filings and new rules are making the collections process even harder after a member “commits bankruptcy” against the credit union. This session is designed for the credit union professional that is familiar with bankruptcy and wants to sharpen their skills in this debtor friendly world. We will examine the current state of consumer bankruptcy and how it continues to impact credit unions. This full day seminar will focus on advanced bankruptcy recovery and loss reduction concepts.

From best practices to the most common landmines to maximizing recovery methods in collections, this interactive program walks the credit union professional through the complicated world of bankruptcy in an easy to understand (and retain) format. Better yet, the instructor is a former bankruptcy attorney who has represented both debtors and credit unions during his 20 plus year career.

The session will cover:

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 recieves 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 Electronics Services

Bankruptcy Recovery and Fraud Control

Leveraging the Credit Union 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 the 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

Overview of NEW Bankruptcy Rules and Forms
News from the Competition: Examining bankruptcy attorneys' marketing strategies.
Fair Credit Reporting Act and FACT Act Violations
Avoiding Automatic Stay Violations
Denial of Member Services
Post Discharge Injunction


(Times are EST)

Part 1
9:00 a.m. - 12:00 p.m.

Lunch Break
12:00 p.m. - 1:00 p.m.

Part 2
1:00 p.m. - 4:00 p.m.

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