Credit Control and Debt Management Level 3
Vocational qualification
Online
Description
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Type
Vocational qualification
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Methodology
Online
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Class hours
90h
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Duration
6 Months
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Start date
Different dates available
Would you like to be able to take control of what is owed to your business? This course provides you with the knowledge and tools to do so - we are in a time of recovery but when clients don't pay it can have serious negative implications to cash flow and the health of the business.
When customers don't pay you, it affects your ability to pay your own bills.
Ensure that you are following the correct legal path, maximise your opportunity of recovering monies owed and pro-actively avoid financial problems - This course is a must for any small business.
You do not need any prior learning knowledge or experience to take this course. This course is openly available to anyone who wishes to take part in a highly rewarding home study course.
Facilities
Location
Start date
Start date
About this course
On this course you will:
Learn methods of controlling credit Investigate methods of credit checking Examine the use of the courts and debt management agencies in recovering debt Describe how to collect debt by letter and telephone Have a thorough understanding of principles and practice of controlling credit
The Credit Control & Debt Management - Level 3 Course is designed for students who wish to gain an understanding of principles and practice of controlling credit and managing debt in commercial organisations.
You don't need any prior skills in the subject area to start this course.
At the end of this course successful learners will receive a Certificate of Achievement by ABC Awards and a Learner Unit Summary (which lists the details all of the units you have completed as part of your course).
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Subjects
- Telephone Skills
- Debt Management
- Credit
- Communication Training
- Controlling Anger
- Pay
- Payment
- Fast Track
- Difficult Customers
- Legal demand
- Multi track
Course programme
The course is divided up into three units, as follows:
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
- 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
- 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 / Sheriffs / 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
- When to choice written forms of communication
- Email verses letters – When is each format appropriate?
- Sample letters
- 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
Assessment
Each unit is followed by a written tutor marked assignment (TMA), which is submitted and then marked by your tutor. You will not be required to take an external exam.
Credit Control and Debt Management Level 3