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Training Course Summary:

** THIS COURSE IS RUN ON DEMAND **
This workshop covers a comprehensive number of issues related to the collection, administration and control of consumer debt. The intended audience is all those involved in consumer credit control whether new, or experienced; a controller, supervisor, or manager. Areas covered include: counselling, communication, negotiation and questioning skills; building rapport with clients; collection techniques by telephone, fax and letter; legal matters including the law related to the Consumer Credit Act; tracing absconders; credit vetting; retention of title.

Training Course Overview/Content:

Part One - What is Consumer Credit Control?

CONSUMER credit - the essential elements

Role and responsibilities of credit control

How the credit function fits into the bigger picture

Business objectives and the importance of cash flow

The ideal Consumer Collector/Controller

Part Two - Measuring Credit Control and Individual Performance

Debtor Days - DSO - Average Payment

Aged Debt

Goals, targets and priorities

Monitoring performances - team & personal effectiveness

Measuring cash and cash flow

Part Three - Credit Vetting

Are your customers ABLE to pay?

Are your customers WILLING to pay?

The need for credit limits

Sources of information

Analysing the data available

Making the credit decision

Part Four - Effective Collecting

The Telephone Call

Probing, open and closed questions

Active and passive listening

Overcoming objections

Gaining commitment

Counselling and controlling the conversation

Concessions

Using words that influence decisions

When and how to apply pressure

Overcoming excuses

Understanding and controlling emotional reactions

Reading into and using the signals

How to deal with your customers' own stress and frustrations

Dealing with customers who can be demanding, awkward and aggressive

Letter Writing

Why write letters?

What do we want to say?

Syntax, structure, headings, text and conclusion

Layout, style, wording and appearance

Timing of letters - circumstances - getting results

Part Five - Consumer Credit Law

The vital elements of the law that consumer credit staff need to/should know before approaching the customer

The law related to harrassment

Rights of the individual

How the law relates to debt collection

Retention of Title

Part Six - Tracing Debtors

Types of absconders

Assessing the absconder

The tracing process

Getting results