Consumer Loan Collection Techniques

Course details

his course is designed for bank’s collectors and concisely covers all aspects of effective loan collections. The course serves a dual purpose. First, it guides the participant through the course and encourages ample note-taking and active participation. Second, once the participant has completed the course, he can use the material as a useful reference guide on the job.

Objectives

• Upon the completion of this course, the participant will be able to:
• Recognize the role of the collections department and the tools available
• Demonstrate the skills of a successful telephone collections call
• Integrate effective collections letters into overall collections strategy
• Demonstrate the skills of effective face-to-face collections visit
• Determine the appropriate actions to conduct repossession
• Be aware of skip tracing techniques that enhance collection efforts

Target Audience

• Debt and Credit Controllers
• Debt Recovery Agents
• Credit Supervisors and Managers
• Debt Collection Managers
• Debtors Clerks
• Debt Collectors
• General Managers of small and medium enterprises

Course Structure

Lectures, discussions, case studies, video and role play

Program Contents

• Module 1: Understanding company credit and debt
• Module 2: Analysing yourself
• Module 3: Analysing your debtors
• Module 4: Spot the most common reasons and excuses for non-payment – and learn how to deal with them
• Module 5: Understanding debt recovery and the law
• Module 6: Debt collection as a vital financial activity
• Module 7: Planning and preparing for effective debt collection
• Module 8: Ensuring the success of your debt collection correspondence
• Module 9: Skip Tracing
• Module 10: Essential telephone techniques