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30 - FNB - Finance and Banking


FNB 215 - Powerful Debt Collecting Techniques

Code Start Date Duration Venue
FNB 215 08 August 2022 5 Days Istanbul Registration Form Link
FNB 215 03 October 2022 5 Days Istanbul Registration Form Link
FNB 215 28 November 2022 5 Days Istanbul Registration Form Link
FNB 215 19 December 2022 5 Days Istanbul Registration Form Link
Please contact us for fees

 

Course Description

Debt collection is critical to a company’s financial health. It might be a tough task to do, though. Therefore, effective debt collection strategies need to be implemented in order to avoid financial problems. In this course, participants will be introduced to these strategies, learning how to organize and prioritize their debts, and getting them paid easily. They will learn how to avoid troubles, what to do in case things get hard, and how to solve dispute. 

Course Objectives

  • Collecting overdue customer invoices effectively
  • Reducing the current customer debt
  • Contacting customers in a systematic way
  • Increasing agents’ debt collection rate
  • Dealing with broken promises 

Who Should Attend?

  • Professionals in collections
  • Accountants
  • Finance officers
  • Customer service professionals 
  • Managers
  • Supervisors

Course Details/Schedule

Day 1

  • Definition of debt collection
  • Associated harassment and deceptive practices
  • Fair Debt Collection Practices Act (FDCPA)
  • Setting up Billing System
  • Request Validation

Day 2

  • Expecting late and non-payments
  • Ranking accounts to prioritize them
  • Ethical considerations for collection attorneys 
  • Motivating slow pays, large accounts and big clients
  • Poor debt management consequences
  • Balancing act

Day 3

  • Collection Effectiveness Index (CEI)
  • Analyzing the operating and cash cycles
  • Managing AR through portfolio strategy
  • Analyzing the size, composition and complexity of AR portfolio
  • Formulating an approach for specific portfolio segments

Day 4

  • Negotiating verbal agreements with debtors
  • How to communicate with consumers
  • Reminder letters
  • Personal visit
  • Post-mortem of bad debts
  • Negotiating the amount 
  • Negotiating time and procedure of payment
  • Addressing debtors' responses
  • How to handle difficult customers

Day 5

  • Strategies in dispute management
  • Claims Court
  • Gathering information
  • Supporting documentation
  • Selling Accounts Receivable
  • Credit report