'Excellence is not a matter of chance but of choice'
Consumer Credit Control Workshop
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.
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
Please e-mail: enquire@ccstraining.co.uk for further information or to discuss requirements.
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