Training on Credit Control for Senior Managers
22nd to 26th Jan 2024
19th to 23rd Feb 2024
25th to 29th March 2024
22nd to 26th April 2024
20th to 24th May 2024
24th to 28th June 2024
22nd to 26th July 2024
26th to 30th Aug 2024
23rd to 27th Sept 2024
21st to 25th Oct' 2024
25th-29th Nov' 2024
16 to 20th Dec 2024
This Credit Control course is designed to teach learners how to effectively offer credit and chase overdue payments. It covers the types of techniques you should use to chase debts in-house, what percentage of interest and chase costs you can apply, and what third party or legal processes you may need to follow when you cannot reclaim payment yourself. With this knowledge, you’ll be able to offer credit to customers with as low a risk as possible and reclaim it efficiently.
By the end of this course, learners will:
• Understand why controlling credit is important and what skills they need to be a good credit controller.
• Know how to offer credit to customers in a low risk way, i.e. by using credit application forms and carrying out credit checks.
• Recognize their right to charge interest and other costs under the Late Payment of Commercial Debts (Interest)
• Learn techniques that enable them to effectively chase payment via phone calls and letters.
• Know how to address common excuses for non-payment.
• Understand how third parties (including debt collection agencies and solicitors) and the court can help chase payment.
• Recognize what further steps they can take if the debtor will still not pay, including sending statutory demands.
• Know what type of relief they can claim back if they are left with bad debts.
Module One: Introduction to Credit Control
This module gives an overview of the credit control process and explains why it is important. It describes the skills a credit controller should have in order to effectively manage the credit their business gives to customers.
What is credit control?
Why is credit control important?
The abilities of a good credit controller
The responsibilities of a credit controller
Module Two: Creating Contracts and Credit Checking
This module covers the steps you should follow before offering a customer credit. It explains what your credit application form should include and how to carry out effective credit checks on customers. It also looks at how much interest and costs late payment legislation allow you to apply to overdue payments.
Contracts and invoices
Late payment legislation
Module Three: Collection Procedures
This module explains in detail what your chase cycle should involve. It teaches you how to effectively use phone calls and letters to chase debtors, and looks at examples of how your conversations should go with debtors. It also explains how to tackle common excuses and make your chase letters have impact.
The chase cycle
Chasing payment: the first call
Common excuses for non-payment
Chasing payment: the second call
Chasing payment: the third call
Module Four: Third Party Collectors and Legal Action
This module discusses the types of third parties you should use if you cannot collect debts yourself. It details the process you will need to go through if you want to take the overdue payment to
court, and also looks at what further action the court can help you
take. For example, sending bailiffs and issuing court orders.
Debt collection agencies and solicitors
Letter before action
Submitting claims to court
Preparing for a court hearing
Further court action
Module Five: Statutory Demands and Other Actions
This module explains the steps you can take if the debtor will still not repay you after the issue goes through court. It looks at how to begin bankruptcy proceedings or winding up the debtor’s
company. It also covers what type of financial relief you can apply for if you are left with bad debts.
- Statutory demands
- Bankruptcy and winding up
- Voluntary arrangements
- Administration orders
- VAT and tax relief
- Default accounts