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.

Duration

5 Days

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