This Practical Debt Recovery Course will cover the following topics;

Introducing Credit and its impacts

• Cost of credit
• Effect on Profits
• Effect on Liquidity
• Effect of bad debts

Why need Credit Management

• Credit Management
• Its objectives

What is a Credit Policy?

• Policies and Procedures

Credit Assessment

• Assessment Policy

• Establishing Creditworthiness

-  Basic information sources

- In-depth information sources

- Customer Visit

- Credit Limits

- Credit terms

• Credit Limit Review

- Credit limit appraisal form ~ 3Cs of Review

Sales and Credit Relationship

• Resolve Conflicts

Cash Collection

• Collection Policy

Effective Collection Skills

• Negotiation

How To Improve the Outcome of Your Debt Collection Negotiations?

- Right attitude

- Hire right person

- Assertive communication

- 11 essential techniques

- Listening skills

- Telephone Collection skills

How To Make Your Collection Calls Get Results?

- Questioning and probing skills

-  Reminder letters

- Personal visit

- Post-mortem of bad debts

Explore external collection methods

• Outsource to Debt Collection Agencies

- Third party Collectors

- Cost effective

• Debt recovery through Legal Proceeding

- Planning Stage

- Legal Process

Filling of writ in court

Service of summons

Entry of appearance

Entry of defence

Obtaining Judgement

-  Legal remedies

Writ of Seizure and Sales

Garnishee Proceedings

Judgement Debtors Summons

Bankruptcy

Winding up

Course Booking

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