Credit Control and Debt Management (Level 3) Course

Course Structure

Unit 1: Credit Control

Credit

• Cutting down on credit
• Bad debts
• Sales discounts

Is my customer credit worthy?

• Credit application form
• Trade references
• Bankers references
• Credit checks
• Credit insurance

Credit control routines

• Terms and conditions of sale
• Interest
• Invoices
• Aged debt analysis and debt turn

Debt recovery through the courts

• The Courts and their powers of collection
• 3 track system – Full description in unit 2

Statutory demands, Insolvency and Bankruptcy

• Statutory demands
• Insolvency
• Winding up petitions
• Voluntary arrangements
• Administration orders

VAT and Tax relief for Bad debts

• What VAT relief is available?
• How to claim relief
• Tax relief

Unit 2: Debt Management Agencies

Credit checking agencies

• An explanation of what credit checking agencies do
• The information they hold
• How to use their services.

Factoring companies

• A history of factoring
• An explanation of how their products work
• The services they can offer.

Specialist Legal Services

• What services are on offer
• How to use their services effectively

The Courts

• How and when it is appropriate to use the courts
• Advice on applying for legal resolution
• The 3 track system
• Small Claims Track
• Fast Track
• Multi track
• Costs verses Settlement – Is it worth it?

Debt Collection Agents

Bailiffs

• What are they?
• What are the costs involved?
• What are their collection powers?

Sheriffs

• What are they?
• What are the costs involved?
• What are their collection powers?

Private Debt Collections agents

• What are they?
• What are the costs involved?
• What are their collection powers?

Unit 3 – Communication

Telephone 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 o Request for payment
• Demand for payment
• Legal demand for payment

How to deal with customer responses

• Common responses and excuses
• How to reply to customer responses
• How to gain commitment

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