COLL01: INTRODUCTION TO COLLECTIONS
This program will introduce you to the functions and objectives of the collection department within our credit union. You will learn about the general objectives of the collection department, expected standards for collector conduct, primary reasons for delinquency on loans, some preliminary techniques for collecting on delinquent loans, and availability of credit counseling to our members.
x close
Sound collection and recovery functions are essential to the success of a consumer credit operation. Collectors can make the difference between retrieving a profitable credit union asset and writing off an account as a loss. This program will introduce you to the different stages of the collection cycle, and the remedies that are available to the collector at each stage.
x close
This program introduces you to collection procedures used to resolve account delinquencies. Early collection actions include making phone calls and sending letters, and progress to repossession, court judgments, and other legal action as the delinquency becomes more serious. A skilled collector needs to identify the member's problem and match it with the appropriate remedy in a way that encourages timely repayment and preserves member dignity and goodwill. In the case of serious delinquencies, specialized skills must be used to ensure that collection procedures are adhered to, and strong action is taken as quickly as possible.
x close
COLL04: OVERVIEW OF COLLECTION LAWS AND REGULATIONS
This program provides an overview of the federal and state laws and regulations that govern debt collection practices and credit reporting activities at our credit union. This introduction includes guidance for reporting to credit reporting agencies; ethical debt collection practices; privacy of consumer information; special provisions for servicemembers on active duty; and reporting canceled debt to the IRS.
x close