This comprehensive and practical one-day course is ideal for new or experienced credit controllers. It covers a broad introduction to the credit control function within the business to consumer sector and focuses on the Consumer Credit Act and EC Consumer Credit Directive.

The course addresses all aspects of the credit controller’s job. It will enable delegates to get the complete picture so that they not only improve their knowledge, but will also learn to see the linkages between all aspects of their work. This will help them to understand priorities better and to allocate their time better between tasks, so that they become more effective in collecting cash.

Suitable for all credit controllers who want to improve their knowledge of all aspects of credit and collections. It is suitable for those who are new to their role and more experienced credit controllers who have had little or no formal training.

By the end of this course you will be able to:

  • Understand the importance of good credit management.
  • Carry out all of the elements of the collections cycle.
  • Choose the best approach to get cash in using a combination of methods.
  • Use the telephone to greater effect.
  • Decide when and how to ‘get tough’ with customers, including going legal.
  • Tackle your ledger and your customers with greater confidence.
  • Manage your cash collection process more effectively.

The Purpose of Credit Control in the Organisation

  • What is credit and why do we need to give it?
  • Maximising profitable sales
  • Protecting against bad debts
  • Better customer relations
  • The company’s credit policy

Terms and Conditions of Trade

  • Contract hire, credit agreements and hire purchase
  • Implications of the Consumer Credit Act
  • Termination rights
  • Interest, overdue accounts and default charges

The Letter Cycle

 

  • What makes a good letter?
  • How effective are they?
  • When to write and when to call
  • Statutory timescales

Good Telephone Techniques

  • Attitudes and behaviour - the psychology of cash collection
  • Get your records straight
  • Telephone calls
    • three call types
    • stages in a telephone call
    • asking for payment and negotiating agreement
    • getting a commitment
    • following up the call

Collecting Tough Debts

  • Why haven’t they paid? Can they pay?
  • Understanding the reasons for non-payment
  • Tackling excuses
  • Providing solutions to get debt cleared
  • Payment plans
  • Alternatives to legal action

A Review of the Legal System

  • Overview of the legal options to collect debts
  • Implications of going legal