Collections & Bankruptcy School: Introduction
Topics & Objectives

Please note that the Topics/Objectives listed below are subject to change.

Collection ABCs

• Evaluate and modify current credit and collection policies
• Understand the most common cases of delinquency
• Recognize and strategize the eight steps in the collection call
• Choose the most effective communication style for the collection process
• Role play scenarios for collection calls

Member Service & Collections

• Orchestrate a service/sales environment in the collection process
• Develop and utilize effective member communications
• Differentiate between stalls and objections
• Plan successful rebuttals

Best Practices Round Table Discussion

Joint session with Advanced

• Review the collection tools currently in use
• Discuss the current challenges that exist in collection practices today

The Power of Negotiation

• Understand the importance of negotiations throughout your collections process
• Know the three elements of every successful negotiation – time, information, and power
• Review expected outcomes for negotiations, including "win-win", "win-lose," and "lose-lose"
• Learn effective negotiation strategies

Repossession

• Define the legal factors affecting repossessions
• Become more comfortable in making the decision to repossess
• Determine how long the credit union should wait before deciding to repossess

Collection Tools & Tips

• Learn guidelines for effective telephone collections
• Understand the importance of documentation
• Discussthe two basic issues when contacting a debtor
• Establish the right questions and avoid the wrong questions
• Learn tips for responding to debtor excuses and objections
• Gain a brief overview of debt collection statutes

Bankruptcy

• Identify the early warning signs of bankruptcy
• Steer members away from bankruptcy
• Strengthen the credit union’s position if a bankruptcy is unavoidable
• Learn technical legal information to reduce your bankruptcy losses
• Understand the difference between Chapters 7 and 13

Maximizing Recoveries from Charged-Off Loans

• Discuss what the realistic charge-off recovery expectations can be
• Explore what role the credit union staff will invest in the recovery effort
• Develop both in-house and third party contact plans to insure maximum charge-off recovery
• Learn how to determine the necessary costs involved to generate an expected recovery

For more program content information or to request a brochure call 800-356-9655, ext. 4249, or email elearning@cuna.coop. For registration questions, call 800-356-9655, ext.4400 or e-mail reginfo@cuna.coop.