Debt Collection and Credit Management Course


INTRODUCTION

Struggling to recover debt? The course outlines effective communication, negotiating skills as well as the effec­tive use of correspondence in collecting debt.

FOR WHOM IS THIS COURSE RELEVANT

This course is suitable for debt collectors, account assistants, bankers, sales people, executives and manager/team leaders who are involved in debt collection.

DURATION

5 Days

TRAINING OBJECTIVE

Upon completion of this training course, participants will be able to:

  • Make a debtor call after careful planning in order to handle objections from the debtor and deal with queries.

  • Identify negotiating strategies in order to reach payment agreement from the debtor.

  • Demonstrate effective communication as a debt collector.

  • Understand the importance of recording all communications and discussions made between the debtor and the debt collector.

  • Implement the negotiation steps and processes and understand the need thereof.

  • Prepare the material for the correspondence sent to the debtor in accordance with the legislation.

  • Implement effective debt collecting strategies according to the code of conduct.

COURSE OUTLINE

Module One

Understanding company credit and debt

  • Reviewing the credit cycle from application to payment

  • Identifying possible causes of outstanding payments

  • Assessing the impact of outstanding debt on your company's financial results

  • Identifying ways in which you can motivate your customers to pay their outstanding debts

Module Two:

Debt collection as a vital financial activity

  • Completing debtor reports as an effective debt management tool

  • Setting definite and realistic debt collection targets

  • Comparing your debt collection results to your initial objectives

  • Analyzing the return-on-investment of your debt collection activities

Module Three:

Planning and preparing for effective debt collection

  • Classifying your debtors to enable a well-targeted approach Understanding the essential elements of debt collection correspondence

  • Paraphrasing the "pay up or else" threat in a more effective and customer friendly fashion

  • Acquiring essential skills for compiling debt collection letters, telegrams, e-mails and faxes

  • Addressing your correspondence to the correct person to guarantee results

  • Using the debtors classification to analyze the potential risk each debtor poses to your company

  • Drawing up a collection checklist to facilitate systematic collections

  • Making use of a customer card system as a comprehensive record of all debtors' histories

  • How do you decide whether to collect the debt by telephone or by letter?

Module Four:

Ensuring the success of your debt collection correspondence

  • Understanding the essential elements of debt collection correspondence

  • Paraphrasing the "pay up or else" threat in a more effective and customer friendly fashion

  • Acquiring essential skills for compiling debt collection letters, telegrams, e-mails, and faxes

  • Addressing your correspondence to the correct person to guarantee results

Module Five:

Essential telephone techniques

  • Ensuring that you are sufficiently prepared before dialing the debtor

  • Understanding professional telephone procedure

  • Dealing with angry customers and excuses

  • Overcoming personal and company objectives

  • Turning promises into commitments to pay

  • Using agreed payment dates and reminders to ensure that the debt is paid

  • Learning how to close calls amicably

Enroll for this Course

We are proud to offer this course in a variety of training formats to suit your needs.

IRES

Enroll for In-Person (Face to Face) Class

We use the highest quality learning facilities to make sure your experience is as comfortable as possible.

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IRES

Enroll for a Virtual Zoom Class

Join a scheduled class with a live instructor and other delegates.

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IRES

Enroll for Online Self-paced Class

Keep track of your own progression throughout your course and ensure continuous improvement.

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Benefits of Taking a Course at IRES

LEARN

Our courses are carefully curated to keep you abreast of latest industry trends, technological advancements, and best practices. We employ a variety of teaching methodologies, including hands-on workshops, case studies, and interactive sessions, all aimed at fostering an engaging and effective learning environment. Our expert instructors bring a wealth of knowledge and real-world experience, providing our clients with insights that can be immediately applied in their professional lives.

NETWORK

Our courses serve as a vibrant platform for professionals to connect and engage with a diverse community of peers, industry leaders, and experts. By participating in our programs, you gain access to an invaluable network that spans across various sectors and geographical boundaries. This networking aspect is not just about forming professional relationships; it's about creating a supportive ecosystem where ideas, opportunities, and collaborations can flourish.

GROW

Our courses are designed to challenge and inspire professionals to step out of their comfort zones and explore new horizons. Through a combination of theoretical knowledge and practical application, our programs help professionals refine their existing skills and acquire new ones, making them more versatile and competitive.

FAQs & Course Administration Details:

This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on Phone: +254 715 077 817 or Email: [email protected].
The instructor led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields. All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.
Upon successful completion of this training, participants will be issued with an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Payment should be transferred to IRES account through bank on or before start of the course. Send proof of payment to [email protected].
Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer. Email: [email protected] Phone: +254 715 077 817.

Who else has taken this course?


# Job Title Organisation Country
1 Head of credit control Nakuru Rural Water & Sanitation Company Kenya
2 TECHNICAL OFFICER DEBT COLLECTION UGANDA REVENUE AUTHORITY Uganda
3 TECHNICAL OFFICER DEBT COLLECTION UGANDA REVENUE AUTHORITY Uganda
4 Debt Collection Assistant Bushra Business Bank Somalia
5 Internal Auditor Amana Bank Somalia