Credit Control & Debt Management

Course details

Course is designed for students who wish to gain an understanding of principles and practice of controlling credit and managing debt in commercial organisations.

CERTIFICATION ISSUED BY:

Chartered Institute for Accountants & Auditor (CIAA - USA) CIAA USA is an accreditation body that is recognized internationally with areas of practice, including accounting, auditing, finance, and consulting.

MEMBERSHIP BY:

HIGH AUTHORITY COUNCIL FOR CHARTERED ACCOUNTANTS (HACCA) HACCA is a world leading professional membership organisation that promotes, develops and supports chartered accountants worldwide. We provide qualifications and professional development, share our knowledge, insight and technical expertise, and protect the quality and integrity of the accountancy and finance profession.

COURSE OBJECTIVES:

• Describe methods of controlling credit
• Investigate methods of credit checking
• Examine the use of the courts and debt management agencies in recovering debt
• Describe how to collect debt by letter and telephone

ELIGIBILITY:

You are qualified to take this certification if you have any of the below requirements:

• Must have at least one year experience in related field
• Bachelors or Masters Degree

COURSE PARTS:

Module One - Credit

• Cutting down on credit; Bad debts; and Sales discounts.

Module Two - Is My Customer Credit Worthy?

• Credit application form; Trade references; Bankers references; Credit checks; and Credit insurance.

Module Three - Credit Control Routines

• Terms and conditions of sale; Interest; Invoices and Aged debt analysis and debt turn.

Module Four - Debt Recovery Through the Courts

• The Courts and their powers of collection; and 3 track system

Module Five - Statutory Demands, Insolvency and Bankruptcy

• Statutory demands; Insolvency; Winding up petitions; Voluntary arrangements; and Administration orders.

Module Six - VAT & Tax Relief for Bad Debts

• What VAT relief is available?; How to claim relief; and Tax relief.

Module Seven - Credit Checking Agencies

• An explanation of what credit checking agencies do; The information they hold and How to use their services.

Module Eight - Factoring Companies

• A history of factoring; an explanation of how their products work; and The services they can offer.

Module Eight - Factoring Companies

• A history of factoring; an explanation of how their products work; and The services they can offer.

Module Nine - Specialist Legal Services

• What services are on offer; and How to use their services effectively.

Module Ten - The Courts

• How and when it is appropriate to use the courts; Advice on applying for legal resolution; The 3 track system; Small Claims Track; Fast Track; Multi track; and Costs verses Settlement and Is it worth it?.

Module Eleven - Telephone Communication

• Telephone skills; Handling problems and objections; Dealing with difficult customers and controlling anger; and How to gain commitment to pay.

Module Twelve - Written Communication

• When to choice written forms of communication; Email verses letters and When is each format appropriate Sample letters (Request for payment, Demand for payment and Legal demand for payment).

Module Thirteen - How to Deal with Customer Responses

• Common responses and excuses; How to reply to customer responses; and How to gain commitment.