Loan Collection Tools Vital in Today’s Economy

This webinar covers negotiation, technical, and management tools in collecting problem loans. The negotiation process will include “human factors” while the technical skills will include “business law basics” (contract law and lender liability).

The technical aspects of collections will also address what happens when a “good” loan turns into a “bad” loan i.e. what should the credit union do and not do at this point in time? This question will be answered by addressing the “legal rights” of the credit union and the “practical steps” that the credit union should take in order to protect itself.

The practical steps will include the collection process, restructuring the loan, and/or proceeding against the borrower through repossession, foreclosure, filing a law suit to obtain a judgment, forcing the borrower into bankruptcy or simply “walking away.” This section will also include the “outside” influence from the credit union regulators.

Additionally, the X (authoritative), Y (delegation), and Z (team) management styles will be outlined which impact the lender’s ability to manage the collection process. The webinar will also include “real-life” collection scenarios.

Covered Topics

  • Collecting problem loans including negotiation, technical, and management skills
  • “Human” factors in the collection process
  • Business law basics including “contract law” and “lender liability”
  • Determine the credit union’s strategy in protecting itself-collections, restructuring the loan, repossession, foreclosure, filing a law suit to obtain a judgment, forcing the borrower into bankruptcy or walking away
  • Collections and the “outside” influence of the credit union regulators
  • The X, Y, and Z management styles and collections management
  • Collection scenarios

Who Should Attend?

Consumer loan officers, residential loan officers, commercial lenders, credit analysts, branch managers, and assistant branch managers.