MADISON, Wis.-The CUNA Lending Council has released a new white paper: "Collections in a Post-Recession Environment."
The paper is based on information gathered from lending and collections leaders at six credit unions as well as two experts from companies that provide outsourced collections services.
"Credit unions report that a segment of members who have delinquent loans in the post-recession environment are from formerly affluent households and may still have relatively high credit scores," said the CUNA Lending Council. "These households were able to use their assets to cope with financial demands as they adjusted to being unemployed or underemployed. But as assets are exhausted and members are unable to find jobs, the household falls behind on payments, loans enter collection and they may even file for bankruptcy. This challenging post-recession environment offers an opportunity for collections to prove its worth to the credit union."
For info: go to the white paper section of
