Advanced Collection Techniques That Reduce Delinquency & Loss

The recession of 2007 to 2010 affected all consumers and impaired many consumers ability to repay their debt obligations. Just about every borrower had some difficulty in keeping their payments current and many borrowers have simply given up. We are still seeing the impact of that recession today and there appears to be the possibility that another recession may occur again.

These conditions had a dramatic impact on financial institution’s delinquency, charge-offs and losses and all of this has put increased pressure on the collection of delinquent accounts. The abilities and expertise of collection departments was tested and many collection departments were not adequately up to the challenge that these conditions presented.

How can we proactively find ways to collect delinquent accounts, retain the loyalty of the borrowers and minimize losses? Join us for a discussion of advanced collection techniques that focus on tools and methodologies which will assist collection personnel to effectively identify how to reduce delinquency and losses and retain the loyalty of borrowers in perhaps the most difficult economic times we have ever experienced.

Covered Topics:

      Ten collection tips that will increase the effectiveness of collection efforts.
      • Better techniques for reaching out to the most difficult debtors when the standard collection techniques have failed.
      • Improving collections communications: The key factor for resolving delinquency problems.
      • Designing a program that allows the debtor to find a solution that repays the amount owed and that retains the borrower’s loyalty.
      • Cost/benefit considerations for collecting the really difficult debtors.
      • Methodologies for improving the efficiency of the collection effort to increase recoveries and lower collection costs.
      • Examples, handouts and more….

      Who Should Attend?

      This session will benefit all personnel in collections including: collections officers, collection support and management as well as loan officers and others on your lending team.