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Lending, Payments, and the Importance of Quality Customer Service

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.

62 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 35 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 35 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

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

OnDemand Course

This course was last revised on December 17, 2021.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 35 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; these include claims under the Truth in Lending Act (TILA), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA) and Telephone Consumer Protection Act (TCPA), as well as state unfair trade practices laws; also defends insurers in coverage disputes, including property-casualty, flood, disability, and life insurance claims, as well as payment and performance bond claims
  • Recognized by the New Jersey Law Journal’s “40 under 40”, comprised of the top 40 young professionals in the New Jersey legal community, and South Jersey Biz’s “Best Attorneys in Business”
  • J.D. degree, magna cum laude, Boston University School of Law; B.A. degree, magna cum laude, University of Texas at Austin
  • 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 35 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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