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Collections & Bankruptcy

Event Info


October 16th, 2012 8:00 AM   through   October 17th, 2012 4:00 PM


STE 200
Training Room
SAINT LOUIS, MO 63146-4012
United States
Terms and Refund information
Terms and Refund Cancellation Policy: Please write to MCUA Professional Development Department fourteen (14) business days prior to the event for a full refund, minus a $100 administration fee. Substitutions accepted anytime. Send cancellation notice to or fax to (314) 542-1312.

Inclement Weather Policy: If MCUA reschedules a training session because of inclement weather or other uncontrollable circumstances, MCUA will make every effort to promptly notify all registrants by a website message, email or telephone. MCUA will reschedule the training session and registrations will be transferred to the new date, after which MCUA’s Cancellation Policy will apply. If the training session is not re-scheduled, full refunds will be provided.

If MCUA does not cancel a training session during inclement conditions or other uncontrollable circumstances, it is up to the registrant or credit union manager to decide if the registrant should attend the program. In an instance where the registrant or credit union manager decides that the inclement weather impedes the registrant’s safe travel, the registration fee will be refunded minus a $100 processing fee.

By registering for this event, I hereby grant the Missouri Credit Union Association permission to use my likeness in a photograph in any and all of its publications, including website entries, without payment or any other consideration. I understand and agree that these materials will become the property of the Missouri Credit Union Association and will not be returned. I hereby irrevocably authorize the Missouri Credit Union Association to edit, alter, copy, exhibit, publish or distribute this photo for purposes of publicizing programs or for any other lawful purpose. In addition, I waive the right to inspect or approve the finished product, including written or electronic copy, wherein my likeness appears. Additionally, I waive any right to royalties or other compensation arising or related to the use of the photograph. I hereby hold harmless and release and forever discharge the Missouri Credit Union Association from all claims, demands, and causes of action which I, my heirs, representatives, executors, administrators, or any other persons acting on my behalf or on behalf of my estate have or may have by reason of this authorization.

I am 21 years of age and am competent to contract in my own name. I have read this release before registering for this event and I fully understand the contents, meaning, and impact of this release.

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Get ready to help both the member and the credit union weather this financial storm. Gain a thorough knowledge of bankruptcy and collections during this unique conference.

Meet the Instructor

David Reed’s training philosophy is centered on the member service approach to effective collections. In his 23 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. 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, 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.

A former trial attorney and Vice President and General Counsel of a large credit union, Mr. Reed 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 on legal 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.

Day 1: Collections

If your credit union is focusing solely on the delinquency report to identify troubled members, you are ready for an upgrade! The current credit crunch is having a negative impact on many members, and credit unions are in a unique position to assist them.  

Every member who has a 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.  

What Makes Members Pay?

  • 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

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 common objections to payment
  • Identifying liability landmines

Special Collections: Skips, Repos, Real Estate

  • Repossession and foreclosure issues
  • Skip tracing resources and tips
  • Third party collections 
  • Agency vs. attorney placement
  • Basic premise for 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 recovery options
  • Maximizing the mortgage collections cycle
  • 1099-Cs
  • Foreclosures

Day 2: Bankruptcy

Consumer bankruptcy 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. Examine the current state of consumer bankruptcy and see how it continues to impact credit unions. This full-day seminar will focus on advanced bankruptcy recovery and loss reduction concepts.   

This interactive program walks you through the complicated world of bankruptcy in an easy-to-understand (and retain) format.

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 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

Bankruptcy Recovery and Fraud Control

  • Leveraging the CU 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 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

  • 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 injunction 


October 16th, 2012 8:00 AM   through   October 17th, 2012 4:00 PM
STE 200
Training Room
SAINT LOUIS, MO 63146-4012
United States