A credit analysis management and debt collection course equips credit professions with the necessary skills that they need to perform their roles with efficiency. Specifically, the courses equip learner learners with the skills required to perform due diligence when evaluating the creditworthiness of a potential borrower or debt issuer
Reviewing the credit cycle from application to payment
Identifying possible causes of outstanding payments
Assessing the impact of outstanding debt on company's financial results
Identifying ways in which you can motivate your customers to pay their outstanding debts
Completing debtor reports as an effective debt management tool
Setting definite and realistic debt collection targets
Comparing your debt collection results to the initial objectives
Analyzing the return-on-investment of debt collection activities
Classifying your debtors to enable a well-targeted approach Understanding the essential elements of debt collection correspondence
Team work in debt and credit management
Accounting and documentation of debts and credit
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?
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
Ensuring that you are sufficiently prepared before dealing 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
Introduction to Insolvency for Credit Managers
Improving performance, efficiency, and accuracy in your processes
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.
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