About this Webinar
Overview
In challenging lending situations, communication becomes the cornerstone of resolution. Join us for an in-depth session focused on navigating the sensitive yet critical process of engaging with borrowers and guarantors during times of financial stress. Learn how to lead these difficult conversations with clarity, professionalism, and unwavering control—while staying legally compliant and protecting your credit union’s interests.
About this Webinar
Key Takeaways
- Escalate to a problem loan officer after 25 days to shift from soft to firm collection.
- Be firm yet respectful, maintaining control and consistent pressure throughout.
- Clearly outline next steps verbally, confirm via email, and formalize with a Notice of Default.
- Channel all communication through your legal counsel when borrower has attorney representation.
- Inform borrower of default-related charges which may be waived if delinquency is cured.
- Escalate to legal action including foreclosure if borrower ignores communication attempts.
Recording