Are you getting the most from the backend of your loan portfolio? “Out of sight, out of mind” shouldn’t describe your charged-off loans. Just because you declare a loan loss internally doesn’t mean there should be zero recovery. With an active combination of in-house effort, collection agencies, and law firms, there are many ways to find money in those “worthless” loans. All you need is a plan and the ability to manage it. This webinar will give you both! From the timing of charge-off, to effective third-party placement details, to the science of tracking and comparing recovery results, this webinar will explore the practical side of charge-off recovery.
- Charge off timing
- In-house versus third-party collections
- Agency or law firm – what is the best placement option?
- Tracking recoveries
- Potential CECL implications
- Statute of limitations issues
- Account recall and re-placement options
- TAKE-AWAY TOOLKIT
- Account placement worksheet
- Lifecycle of a charged-off loan
- Regulatory guidance
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
The information in this session is designed for executives, CFOs, lending managers, collections managers, collections staff, and anyone interested in maximizing collection return from charged-off loans.
SPEAKER: David A. Reed, Reed & Jolly, PLLC
Attorney, author, consultant, and nationally-recognized speaker, David Reed is a partner in the law firm of Reed & Jolly, PLLC. He provides guidance to financial institutions on establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters, and corporate governance. His engaging speaking style has made him a nationwide lecturer on regulatory compliance, consumer lending, bankruptcy, and collections.
A former trial attorney and vice president and general counsel of a large credit union, David is particularly known as an expert in the areas of operations, bankruptcy, and collections. He has trained state and federal examination staff on numerous issues, including BSA, ID theft red flags, SAFE Act, third-party contract management, and bankruptcy. He also serves as editor of several industry manuals.