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Credit Control & Debt Collection

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Program Introduction

This training program covers the principles and practices of credit control and debt management. This program is ideally suited to those working within a credit control function of a large organization or those managing the finances of small businesses. The program covers credit control methods and techniques which will ensure a more effective approach to ensuring customers meet their commitments and pay on time. At the end of the training program, you will be able to operate a complete collections program with increased confidence using best practice techniques. Hence, this training program is designed specifically to help improve your collection rates.

Program Objectives

  • Understand debtors and communicate with them effectively
  • Understand the meaning and reasons for Credit Management
  • Improve their telephone and writing skills
  • Appreciate the key legal issues
  • Track down ‘gone aways’
  • Improve their collection rates

 

Who Should Attend?

Credit Controllers, Accounts and Financial Control personnel,Business Owners and Managers who have responsibility for finance

PROGRAM OUTLINE

1. Credit Control
2. Debt Management Agencies
3. Communication
1. Credit Control
  • Credit. Cutting down on credit. Bad debts. Sales discounts
  • Is my customer credit worthy? Credit checks
  • Credit control routines
  • Debt recovery through the courts
  • Statutory demands, Insolvency and Bankruptcy
  • Statutory demands
  • Insolvency
  • Winding up petitions
  • Voluntary arrangements
  • Tax relief for Bad debts
2. Debt Management Agencies
  • Credit checking agencies
  • Factoring companies
  • Specialist Legal Services
  • The Courts
  • Small Claims Track
  • Costs verses Settlement – Is it worth it?
  • Debt Collection Agents
  • Bailiffs
  • Sheriffs
3. Communication
  • Telephone skills
  • Handling problems and objections
  • Dealing with difficult customers and controlling anger
  • How to gain commitment to pay
  • Written Communication
  • When to choice written forms of communication
  • Email verses letters – When is each format appropriate?
  • Sample letters
  • Request for payment

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