'Excellence is not a matter of chance but of choice'

Consumer Credit Control Workshop

This workshop covers a comprehensive number of issues related to the collection, administration and control of consumer debt. The intended audience is all those involved in consumer credit control whether new, or experienced; a controller, supervisor, or manager. Areas covered include: counselling, communication, negotiation and questioning skills; building rapport with clients; collection techniques by telephone, fax and letter; legal matters including the law related to the Consumer Credit Act; tracing absconders; credit vetting; retention of title.

Part One - What is Consumer Credit Control?

• CONSUMER credit - the essential elements


• Role and responsibilities of credit control


• How the credit function fits into the bigger picture


• Business objectives and the importance of cash flow


• The ideal Consumer Collector/Controller

Part Two - Measuring Credit Control and Individual Performance

• Debtor Days - DSO - Average Payment


• Aged Debt


• Goals, targets and priorities


• Monitoring performances - team & personal effectiveness


• Measuring cash and cash flow

Part Three - Credit Vetting

• Are your customers ABLE to pay?


• Are your customers WILLING to pay?


• The need for credit limits


• Sources of information


• Analysing the data available


• Making the credit decision

Part Four - Effective Collecting

The Telephone Call

• Probing, open and closed questions


• Active and passive listening


• Overcoming objections


• Gaining commitment


• Counselling and controlling the conversation


• Concessions


• Using words that influence decisions


• When and how to apply pressure


• Overcoming excuses


• Understanding and controlling emotional reactions


• Reading into and using the signals


• How to deal with your customers' own stress and frustrations


• Dealing with customers who can be demanding, awkward and aggressive

Letter Writing

• Why write letters?


• What do we want to say?


• Syntax, structure, headings, text and conclusion


• Layout, style, wording and appearance


• Timing of letters - circumstances - getting results

Part Five - Consumer Credit Law

• The vital elements of the law that consumer credit staff need to/should know before approaching the customer


• The law related to harrassment


• Rights of the individual


• How the law relates to debt collection


• Retention of Title

Part Six - Tracing Debtors

• Types of absconders


• Assessing the absconder


• The tracing process


• Getting results

Please e-mail: enquire@ccstraining.co.uk for further information or to discuss requirements.