debt collection

Debt Collection

Effective collection requires the management of emotions. Collecting monies owed to your organisation can be a big exercise in frustration if you are not familiar with strategies that get results.

It is easy for new collectors to take calls personally and allow their emotions to override their training. You will learn how to deal with them and encourage new collectors to practice stress management techniques.

Our experts provide the training necessary to get new people up to speed as well as assist inexperienced credit professionals in learning the newest techniques in the industry.

You will have the opportunity to apply your knowledge through group work and practical exercises and will leave feeling confident and ready to put into practice what you have learnt.

The training program includes instruction on Listening and Speaking. Good collectors are good listeners. They are listening for the meaning behind what is being said rather than the tone of voice. They know that letting the debtor talk freely gives them insight into how they might collect the debt. Telephone etiquette is important for all professionals and collectors are no exception. Good communication skills are necessary as this individual may be the only interaction a customer has with your organisation.

Effective collectors need to consistently find new communication strategies, apply proven collection techniques and use proven systems to maximise collections from slow or potentially bad debtors. No one is going to take a collector seriously who is unprepared, hesitant or intimidated.

You will learn:

  • Ways to prepare thoroughly for the collections call prior to picking up the phone
  • Employing each of the key elements that make up a successful collections call
  • Using firm but polite telephone mannerisms to improve debt collection success rates
  • Letters of demand and how to communicate effectively
  • Handling excuses and how to commit the debtor
  • Building a debt recovery practice including tips and tactics to get ahead of the game
  • Compliance and regulatory issues like how do these affect your practice?
  • Client’s terms and conditions of trading and their relevance to debt recovery
  • How to obtain default judgments
  • Strong interpersonal skills are integral to good collections. Collectors must be able to work in a team environment.

Individuals who are responsible for collecting outstanding accounts on behalf of a business or organisation and who want to improve their confidence and effectiveness in this role should definitely attend this course. Also, all professionals in collections, accounting, finance, customer service, credit, sales, accounts receivable and operations, as well as managers, supervisors, vice presidents and small business owners will gain invaluable information concerning debt collection and legal compliance for your organisation.

Summarising, whether you are new to the business or an experienced practitioner, our courses will add that ​extra dimension of professionalism to your career. The aim of this course is to provide managers with awareness and a basic understanding of credit control methods and techniques. It aims to enable managers to be more effective in ensuring their customers meet their commitments to pay regularly and on time.

Contact us to start now!  Telephone: +353 838 844 773  E-mail: info@koteve.com

 

Effective Collection

“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people that they don’t like.”

Will Rogers