Debt Management And Credit Control

Assessment
Each element is followed by a written assignment, which is submitted and marked by your tutor. There is no external examination required.
Course Duration
Students may register at any time and have a full year to complete their studies. The course will take around 80 hours of study to complete.
Pack/Course Contents
· Studyguide
· Comprehensive study notes for each element of the course
· Self-assessment activities
· Assignments
· Tutor support
· Assignment marking & feedback
· Accreditation
COURSE CONTENT
The course is divided up into three modules, 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
· 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
· 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