The Credit Control & Debt Management – Level 3 Course is designed for students who wish to gain an understanding of principles and practice of controlling credit and managing debt in commercial organisations.
On successful completion of this course, students will receive an accredited Level 3 Certificate of Achievement.
Objectives:
- The objectives of the home study courses are to:
- Describe methods of controlling credit
- Investigate methods of credit checking
- Examine the use of the courts and debt management agencies in recovering debt
- Describe how to collect debt by letter and telephone
The Home Study Courses Include the Following 3 Units Containing 14 Individual Lessons:
UNIT 1: Credit Control
- Module One -Credit
The following topics are covered: Cutting down on credit; Bad debts; and Sales discounts.
- Module Two – Is My Customer Credit Worthy?
The following topics are covered: Credit application form; Trade references; Bankers references; Credit checks; and Credit insurance.
- Module Three -Credit Control Routines
The following topics are covered: Terms and conditions of sale; Interest; Invoices and Aged debt analysis and debt turn.
- Module Four – Debt Recovery Through the Courts
The following topics are covered: The Courts and their powers of collection; and 3 track system – (Full description in unit 2).
- Module Five – Statutory Demands, Insolvency and Bankruptcy
The following topics are covered: Statutory demands; Insolvency; Winding up petitions; Voluntary arrangements; and Administration orders.
- Module Six -VAT & Tax Relief for Bad Debts
The following topics are covered: What VAT relief is available?; How to claim relief; and Tax relief.
UNIT 2: Debt Management Agencies
- Module Seven -Credit Checking Agencies
The following topics are covered: An explanation of what credit checking agencies do; The information they hold and How to use their services.
- Module Eight -Factoring Companies
The following topics have covered A history of factoring; an explanation of how their products work; and The services they can offer.
- Module Nine -Specialist Legal Services
The following topics are covered: What services are on offer; and How to use their services effectively.
- Module Ten -The Courts
The following topics are covered: 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; and Costs versus Settlement and Is it worth it?.
- Module Eleven -Debt Collection Agencies
The following topics are covered: 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
- Module Twelve – Telephone Communication
The following topics are covered: Telephone skills; Handling problems and objections; Dealing with difficult customers and controlling anger; and How to gain commitment to pay.
- Module Thirteen – Written Communication
The following topics are covered: When to choice written forms of communication; Email verses letters and When is each format appropriate?; Sample letters (Request for payment, Demand for payment and Legal demand for payment).
- Module Fourteen – How to Deal with Customer Responses
The following topics are covered: Common responses and excuses; How to reply to customer responses; and How to gain commitment.
To find out more about Credit Control & Debt Management Course visit course provider website.
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