Speedy Debt Recovery and Effective Credit Management
Clever Debt Collection Techniques that Get Results
Key Takeaways: Collect Debts Effectively and Confidently
At the end of this workshop, participants will learn how to:
- Deal with delaying or non-payment excuses and reduce credit exposure of difficult customers effectively
- Collect from financially distressed debtors
- Grasp the importance of strategic importance of credit collection management and commercial/business awareness
- Master the art of collecting debts through phone and the three phases of collection call
- Successfully implement a proactive and practical credit management and debt recovery strategies to address delay/non payments
- Better understand different methods of collection (including negotiation) on debts
- Lay groundwork to make collection efforts produce better results
- Comprehend the legal perspective in debt collections and maximizing debt recovery through ligation procedures
- Write effective letters, faxes and emails that are shorter, clearer and deliver desired results
- Make the right decisions in credit collection and increase your organization’s Return on Investment (ROI)
- Use different debt collection techniques to different situations designed specifically for your customers
Introduction to debt collection
This section will introduce the participants to the primary objectives in collections, the importance of collections, objectives of establishing collection policies as well as examples of some general collection policies.
How to lower your risk factors?
This section covers having a proper credit control system, causes of delinquency in receivables, knowing your legal rights against your debtor.
Attributes of an effective collections staff
This section touches on what are the attributes that makes an “effective” collections staff.
Effective collection techniques
This section includes general guidelines on collection techniques.
Effective telephone techniques
This section will introduce telephone collections, communicating tips, the process of a successful phone collection call & developing your collection “POWER”.
This section will guide the participants through on the different debtor profile types & the “tell-tale” signs as well as the kinds of delinquent debtors.
Delays & objections/disputes, gatekeepers
This section examines the difference between a delay & an objection/dispute, the different types of excuses, how to counter them & also how to get around gatekeepers.