Credit Control and Debt Management

INTRODUCTION

Credit Control and Debt Management course describes the methods of controlling credit, investigates methods of credit checking, examines the use of the course and debt management agencies in recovering debt and describes how to collect debt by letter and telephone. This 5-days course will equip participants with knowledge and skills on how to collect overdue debts.

Course objectives

At the end of the training, participants will be able to:

·        Understand collection of overdue customer invoices

·        Understand Debtor Ledger Questionnaire to evaluate office procedures and identify gaps in the systems

·        Develop strategies to reduce current customer debt

·        Contact customers using overdue invoice strategies

·        Use a phone script when handling overdue invoice sand has all the answers to questions that might be asked

Who should attend?

·        Professionals in the administrative, business and finance sector who are responsible for the management of credit accounts, and ensuring the efficient management of debt

·        Credit Controllers, Managers & Supervisors

• Accounts Receivable Officers, Supervisors & Clerks

·        Anyone with accounts receivable and credit collection responsibility

·        Debt Managers

·        Accounting Officers

·        Financial Administrators

·        Office Managers

·        Customer Care Department

·        Staff Members Willing To Refresh Their Credit Management Skills

Module 1:  Introduction to credit control and debt management

·        Cost of running a ledger        

·        Labour costs

·        Bad debts costs

·        Evaluation of business procedures

·        Business procedure inefficiencies

 Module 2: Credit Control

·        Understanding customers

·        Is my customer credit worthy?

·        Credit control routines

·        Debt recovery through the courts

·        Statutory demands, Insolvency and Bankruptcy

·        VAT and Tax relief for Bad debts

 Module 3: Procedures for credit control

·        Procedures and policies

·         Ledger currencies

·        Activities on debt collection

·        Payments, complaints and reports

·         Strategies of overdue

·         Customer excuses

·        Meetings

·        Complaints

·        Phone call preparations

·        Phone call script

·        Problems of cash flows

 Module 4: Debt Management Agencies

·        Credit checking agencies

·        Factoring companies

·        Specialist Legal Services

·        The Courts

·        Debt Collection Agents

 Module 5: Communication

·        Telephone Communication

·        Written Communication

·        How to deal with customer response