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5 - FNB - Finance and Banking
FNB 236 - Debt Collection, Recovery, Negotiation and Credit Control Management
Code | Start Date | Duration | Venue | |
---|---|---|---|---|
FNB 236 | 16 December 2024 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 13 January 2025 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 10 February 2025 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 10 March 2025 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 07 April 2025 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 05 May 2025 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 30 June 2025 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 28 July 2025 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 25 August 2025 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 22 September 2025 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 20 October 2025 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 17 November 2025 | 5 Days | Istanbul | Registration Form Link |
FNB 236 | 15 December 2025 | 5 Days | Istanbul | Registration Form Link |
Course Description
This course is designed to provide participants with a comprehensive understanding of debt collection, recovery, negotiation, and credit control management. Participants will learn about the legal and regulatory framework governing debt collection practices, as well as develop effective strategies for negotiating with debtors to recover outstanding debts.
The course will cover best practices for credit control management, including techniques for preventing future debt issues and improving overall financial health. Participants will also enhance their communication and interpersonal skills to effectively deal with debtors and creditors in a professional manner.
Course Objectives
- Understand the legal and regulatory framework surrounding debt collection and recovery.
- Develop effective strategies for negotiating with debtors to recover outstanding debts.
- Learn best practices for credit control management to prevent future debt issues.
- Enhance communication and interpersonal skills to effectively deal with debtors and creditors.
- Improve financial analysis skills to assess the creditworthiness of debtors and make informed decisions.
- Gain knowledge of different debt collection techniques and tools to maximize recovery rates.
Who Should Attend?
- Collection Officers
- Sales & Marketing Executives
- Credit Officers & Analyst
- Business Owners and Operations
- Customer service and Relationship managers
Course Details/Schedule
Day 1
- Types of Debt Collectors
- Debt Recovery Process
- Initial consultation
- Due diligence
- Issue of letter of demand
- Awaiting response and negotiate
- Court related processes
- Measures Reducing Bad Debt Recovery
- Thorough customer background check
- Release of goods after payment clearance
- Shipping of goods after direct deposit payment
- Regular invoicing
- Clear payment instructions and terms on invoices
- Regular contact with customers
Day 2
- Effective Debt Collection Strategies
- Alternate but flexible payment terms
- Customer-oriented operations
- Up-to-date communications
- Applied analytics
- Centralized debt collection systems
- Challenges Affecting Debt Collection Operations
- Increased focus of regulators
- Ineffective debt collection systems
- Inefficient customer segmentation
- Lack of proper tools
- Lack of a consolidated borrower-centric approach
- Multi-product, multi-channel, multi-debt obligations
Day 3
- Debt Collection Agency Functions
- Tracing creditor
- Negotiating
- Systematic follow-up
- Maintaining records
- Methods of Debt Collection Agencies to Recover Debt
- Freezing accounts
- Property as security
- Wage garnishment
- Effective Credit Policy Components
- Term of sale
- Credit extension
- Collection policy
Day 4
- Effective Debt Settlement Negotiations
- Start with reminders
- Have accurate information
- Do your research
- Stay professional
- Approach negotiations as equals
- Have a concrete minimum
- Require a counter-offer
- Confirm deal in writing
- Clearly explain ramifications
- Remember follow-up letters
- Cash Flow Management
Day 5
- Credit Control System Set-Up
- Clear credit terms and limit
- Check new customer credit scores
- Terms and conditions in writing
- Offer different payment options
- Consider discounts for early payments
- Send regular reminders
- Employ debt collection agencies
- Commence legal proceedings in time
- Buy trade credit insurance
- Financial statement analysis models
- Default probability models
- Machine learning models
- Factors Affecting Borrowers’ Credit Risk