Credit Control & Debt Management Level 3

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Credit Control & Debt Management Level 3

UK Open College
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Description

Unit 1 – Credit Control

Credit

Cutting down on credit
Bad debts
Sales discounts

Is my customer credit worthy?

Credit application form
Trade references
Bankers references
Credit checks
Credit insurance

Credit control routines

Terms and conditions of sale
Interest
Invoices
Aged debt analysis and debt turn

Debt recovery through the courts

The Courts and their powers of collection
3 track system – Full description in unit 2

Statutory demands, Insolvency and Bankruptcy

Statutory demands
Insolvency
Winding up petitions
Voluntary arrangements
Administration orders

VAT and Tax relief for Bad debts

What VAT relief is available?
How to claim relief
Tax relief

Unit 2: Debt Management Agencies Credit checking ag…

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Didn't find what you were looking for? See also: Credit Management & Control, Debt, Accounting, Business Administration, and Bookkeeping.

Unit 1 – Credit Control

Credit

Cutting down on credit
Bad debts
Sales discounts

Is my customer credit worthy?

Credit application form
Trade references
Bankers references
Credit checks
Credit insurance

Credit control routines

Terms and conditions of sale
Interest
Invoices
Aged debt analysis and debt turn

Debt recovery through the courts

The Courts and their powers of collection
3 track system – Full description in unit 2

Statutory demands, Insolvency and Bankruptcy

Statutory demands
Insolvency
Winding up petitions
Voluntary arrangements
Administration orders

VAT and Tax relief for Bad debts

What VAT relief is available?
How to claim relief
Tax relief

Unit 2: Debt Management Agencies Credit checking agencies

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

Factoring companies

A history of factoring,
An explanation of how their products work
The services they can offer.

Specialist Legal Services

What services are on offer
How to use their services effectively

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
Costs verses Settlement – Is it worth it?

Debt Collection Agents
 

Bailiffs
What are they?
What are the costs involved?
What are their collection powers?
Sheriffs - What are they?
What are the costs involved?
What are their collection powers?
Private Debt Collections agents
What are they?
What are the costs involved?
What are their collection powers?

Unit 3: Communication Telephone Communication

Telephone skills

Handling problems and objections

Dealing with difficult customers and controlling anger

How to gain commitment to pay

Written Communication

When to choice written forms of communication

Email verses letters – When is each format appropriate?

Sample letters

Request for payment

Demand for payment

Legal demand for payment

How to deal with customer responses

Common responses and excuses

How to reply to customer responses

How to gain commitment

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