Live Webinar

60-minute live streaming program
  • December 17
  • 1:00 - 2:00 pm EST

Lending, Payments, and the Importance of Quality Customer Service

December 17

Learn customer service strategies and best practices that will enable you to avoid or minimize payment disputes.

Borrowers seeking to repay consumer debts have various options for making payments. This material will discuss those options and the potential business complications presented by each option. Unfortunately, payment disputes between borrowers and consumer lenders and servicers of consumer debts are all too common. This material will discuss the most common types of payment disputes and the litigation claims produced by these disputes, including the risks that these claims present for consumer lenders and servicers of consumer debts. Good customer service practices can avoid payment disputes, assist with promptly resolving them before they result in litigation, and position consumer lenders and servicers of consumer debts for successful outcomes when lawsuits are filed. This topic will discuss customer service strategies and best practices that will enable lenders and servicers to achieve their goals and expand their businesses.

Learning Objectives

  • You will be able to define the various options that borrowers seeking to repay consumer debts have for making payments and the potential business complications presented by each option.
  • You will be able to describe customer service strategies and best practices that will enable consumer lenders and servicers of consumer debts to avoid or minimize payment disputes.
  • You will be able to explain the risks that payment disputes present for consumer lenders and servicers of consumer debts.
  • You will be able to identify common payment disputes and the litigation claims related to these disputes.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Payment Methods Available to Consumer Borrowers and the Laws Governing These Payment Types
  • Checks, Including Cashier’s Checks
  • ACH and Other Electronic Payments
  • Telephone Payments
Common Payment Disputes and Resulting Litigation Claims, With Case Examples
  • Pay to Pay Claims – Fees Charged for Certain Types of Payment Methods
  • Claims Based on Fees for Missed Payments and Overdrafts
  • Claims Based on Alleged Misapplication/Misdirection of Payments
  • Claims Based on Alleged Misrepresentation of the Amount Due and Owing
  • Other Claims Based on Customer Service Conduct, Including Alleged Harassment and Abuse
Customer Service Recommendations for Avoiding and Resolving Payment Disputes
  • Clear, Complete, and Easy to Understand Disclosures in Account Agreements and Other Written Documents
  • Use of Scripts in Customer Service Calls and Adequate Training of Customer Service Reps
  • Flexibility to Waive Certain Fees or Make Other Accommodations to Resolve Disputes
  • Whether to Record Calls With Customers and the Importance of Note-Taking
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More Program Information

Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • CPE 1.2 including Business Management and Organization 1.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Management and Organization for 1.2 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for presidents, vice presidents, branch managers, loan officers, credit and collections managers, loan department personnel, compliance officers, financial counselors, and risk managers.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Eric M. Hurwitz

Eric M. Hurwitz

Stradley Ronon Stevens & Young, LLP

  • Partner in the Cherry Hill office of Stradley Ronon Stevens & Young, LLP
  • Co-chair of the firm’s Financial Services Litigation practice group
  • Practice focuses on defending financial institutions from claims arising out of nearly every type of consumer and commercial financial product
  • Defends both single-plaintiff and class-action lawsuits against banks, mortgage lenders and servicers, student lenders, credit card companies, auto finance companies, debt collection companies, and other financial services institutions
  • Conducts regular seminars and workshops on numerous consumer finance topics
  • Author of publications concerning the mortgage industry, including servicing regulations promulgated by the Consumer Financial Protection Bureau, standing challenges to foreclosures, and credit reporting under the Fair Credit Reporting Act.
  • South Jersey Biz, Best Attorneys in Business for litigation
  • J.D. degree, Boston University School of Law; B.A. degree, University of Texas at Aus-tin
  • Can be contacted at 856-321-2406 or [email protected]
Christopher A. Reese

Christopher A. Reese

Stradley Ronon Stevens & Young, LLP

  • Associate in the Cherry Hill office of Stradley Ronon Stevens & Young, LLP
  • Practice focuses on defending financial institutions from claims arising out of nearly every type of consumer and commercial financial product
  • Defends both single-plaintiff and class-action lawsuits against banks, mortgage lenders and servicers, student lenders, credit card companies, auto finance companies, debt collection companies, and other financial services institutions
  • Author of publications concerning legal issues affecting the consumer finance sector, including mortgage lending
  • J.D. degree, Temple University Beasley School of Law; B.A. degree, University of Maryland Baltimore County
  • Can be contacted at 856-321-2408 or [email protected]
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405771
Published 2021
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