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Collections & Bankruptcy - 2014

Event Info


September 3rd, 2014 8:30 AM   through   September 4th, 2014 5:00 PM

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Back by popular demand, David Reed will share both his Collections and Bankruptcy expertise. He is one of the few credit union professionals that presents on both topics. We are thrilled to have him back in 2014.

David Reed’s training philosophy is centered on the member service approach to effective collections.   In his 24 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 and founder of CU Doctor, a full service credit union consulting practice.  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.  He also serves as editor of several industry manuals including Collections Manual for Credit Unions and Bankruptcy Guide for Credit Unions.

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 and their twin daughter

Day 1

Developing and Maintaining an Effective Collections Department: 
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 credit crunch is having a negative impact on many of your members and credit unions are in a unique position to assist them.

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 didn’t 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 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’s too late.

Part 1 - What Makes Members Pay

  • Appreciating the Difference Between Being In Trouble and Being Delinquent
  • Collections as a Member Service
  • Mapping Out Key DQ Member Contact Points
  • Early Identification of Economically Troubled Members
  • Educating all Staff on the Collections Function
  • Cross Selling in a Collections Environment
  • Prioritizing Collection Efforts
  • Pre-Contact Preparation
  • Essential Elements of a Collections Phone Call
  • The Art of Closing the Call

Part 2 - Creating Fool Proof Collections Processes

  • Compliance Traps and Regulatory Requirements
  • Performing a Collections 360° Analysis and Inventory
  • Creating Effective Staff Incentives
  • Working with Senior Management and the Board
  • Tracking Effort AND Results
  • Building Bridges Within the Credit Union
  • Defining and Celebrating Successes
  • Dealing with Difficult Members
  • Overcoming the Most Common Objections to Payment
  • Identifying Liability Landmines

Part 3 - 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 the Mortgage Collections Cycle
  • Maximizing Recoveries on Charged Off Loans
  • Agency vs. Attorney Placement

Day 2

Bankruptcy:  Beyond the Basics! 

Advanced Bankruptcy:  Beyond the Basics!  Think the real estate market is bad enough for your bottom line?   Well don’t look now, but bankruptcies are back in the mix again!   Consumer filings are at their highest rate in years and they’re still climbing!  This session is designed for the credit union professional who 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.

Part 1 - 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

Part 2 - Operational Issues in Bankruptcy

  • What every credit union should be doing after it receives 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 Electronic Services

Part 3 - 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

Part 4 - Regulatory Compliance Traps in the New Bankruptcy Order

  • News from the Competition:  Examining bankruptcy attorneys’ marketing strategies
  • Fair Credit Reporting Act and FACT Act Violations
  • Automatic Stay Violations
  • Denial of Member Services
  • Post Discharge Injunctions.


For our out of town attendees, an arrangement has been made with the Doubletree Westport (1973 Craigshire Road, St. Louis, MO 63146). You will receive a king room for $129. Simply call 314-434-0100 and mention the Missouri Credit Union Association when making your reservation!


Continental breakfast each day, lunch, breaks, speaker handouts.


The Missouri Credit Union Association (MCUA) is offering tiered pricing for eligible affiliated credit unions. The tiered pricing model is shown below.

Asset Size


One Day

Both Days

< $9.99M















Before 8.4.14



Contact: Julie Schulte
Phone: 314.542.1321


September 3rd, 2014 8:30 AM   through   September 4th, 2014 5:00 PM