Overview

Course Description"Effective Debt Collection Strategies" is a comprehensive course designed to equip debt collectors, credit managers, and financial professionals with the skills and knowledge needed to recover debts efficiently and professionally. This course covers the latest industry best practices, laws, and regulations governing debt collection, including communication strategies, negotiation techniques, and risk management.CHAPTER I TERMINOLOGY USED IN DEBT COLLECTIONCHAPITER II DEBT COLLECTOR ACTII.1 THE AIMS OF THE ACTII.2 DEFINITION OF DEBT COLLECTORII.3. PERSONS PROHIBITED FROM PERFORMING CERTAINS ACTSII.4 IMPROPER CONDUCTII.5 RECOVERY MONEYII.6 WHERE DOES MONEY GO TOFORMATIVE ACTIVITY: DEBT COLLECTORS ACTCHAPTER III. NATIONAL CREDIT ACTIII.1. DEFINITIONIII.2. OVERVIEW OF THE ACTIII.3. IMPORTANT NOTEIII.4. THE PURPOSE OF THE NCAIII.5. WHICH UNDESIRABLE PRACTICE DOES THE NCA WANT TO ELIMINATE?III.6 THE NCA CREATED THE FOLLOWING BODIES TO ASSIST TO REGULATE THE CREDIT MARKETIII.7 OF THE CONSUMER AS PER NCAIII.8. RIGHTS OF CREDITS PROVIDERSIII.9. DEBT COLLECTIONIII.10 RECKLESS CREDITFORMATIVE ACTIVITY: NATIONAL CREDIT ACTCHAPTER IV PRESCRIPTION ACTIV.1 DEFINITIONIV.2. CATEGORIES OF PRESCRIPTIONIV.3. PRESCRIPTION BEGINS TO RUNIV.4. DELAYED ON PRESCRIPTIONIV.5. PRESCRIPTION INTERRUPTEDIV.6. FORMS OF INTERRUPTIONCHAPTER V LSDA (LIQUIDATION, SEQUESTRATION, DEBT REVIEW & ADMINISTRATION)V.1. LSDA STATUSV.2. DISPUTE AND DISPUTE HANDLING· ACCOUNT SETTLED· BALANCE ENQUIRY· NEVER OPENED AN ACCOUNTV.3. NEGOTIATIONV.4. PAYMENT OPTIONV.5. PAYMENT METHODS5.6. HANDLING THE PTP REMINDER OR CHANGE OF PTPV.7. EDUCATING DEBTORV.8. UPDATING THE DETAILSV.9. PROFESSIONALISMV.10. ENDING OF THE CALLCHAPTER VI DEBIT ORDER AND DEBT ORDER CALL SCRIPTVI.1. INTRODUCTIONVI.2. DEBIT ORDER IN DETAILSVI.3. COMMON SALARY DATESVI.4. HOW AND WHEN SHOULD WE CLOSE A DEBIT ORDER?VI.5. BENEFITS OF SELLING DEBIT ORDERVI.7. DEBIT ORDER SCRIPTCHAPTER VII COST GENERATION & RECOVERYVII.1. DEFINITION (COST)VII.2. WHAT DOES THE LAW SAY?VII.3. WHAT DOES THE COUNCIL SAYVII.4. EXPENSE AND FEESVII.5. ALL ABOUT COSTVII.6. DEBTOR OWN PHONE NUMBER - WHEN?VII.7. NOT TO DEBTOR OWN PHONE NUMBERS - WHEN?VII.8. NECESSARY CONSTRUCTIONa. ACKNOWLEDGEMENT OF DEBTb. CLEARANCE LETTERc. STATEMENTSVII.7. COST AS MOTIVATIONVII.8. COST MEASUREMENTCHAPTER VIII NEGOTIATIONSVIII.1. WHAT IS NEGOTIATIONVIII.2. PREPARING FOR A SUCCESSFUL NEGOTIATIONVIII.3. STEPS IN THE NEGOTIATION PATHWAYVIII.4. STYLE IS CRITICALVIII.5. NEGOTIATION SUCCESSFULLYCHAPTER IX. SOFT SKILLSIX.1. INTRODUCTIONIX.2. WHAT ARE CORPORATE SOFT SKILLS?IX.3. WHAT AND WHERE TO STARTa. WHAT TO DO, WHERE TO STARTb. SOFT SKILLS IN THE CONTACT CENTREIX.4. POSTURECHAPTER X EFFECTIVE COMMUNICATIONX.1. INTRODUCTIONX.2. COMMUNICATION IN THE WORK PLACEX.2.1. INTERACTION (WHAT DOES THIS CONSIST OF?X.2.2. THE CORPORATE GREETINGX.2.3. OUTBOUND CALLa. INTRODUCTIONb. WHAT IS THE SECURITY CHECK?c. THINGS TO CHECK ON THE SECURITY CHECKd. HANDLING OF THE CALLe. BODYf. SOLUTION TO THE PROBLEMg. SUMMARIZE YOUR CALLh. END THE CALLi. HANDLING OBJECTIONS OFF RAMPSCHAPTER XI DAYBOOK MANAGEMENTXI.1. OUTCOMESXI.2. COLLECTION TECHNIQUESXI.3. MAXIMIZING PROCESSa. PROMISE TO PAY (PTP)b. ALLOCATIONc. INSTALMENTd. REPAYMENT PLANe. WHEN WORKING WITH FAILS· NON PAYMENT· DID NOT HONOR INSTAMENT· IF THE PAYMENT WAS LATEf. CLOSE PARTY CONTACTg. WRONG PARTY CONTACTXI.4. LET US DIVIDE MANAGING WORK LOAD INTO FIVE FUNCTIONXI.5. ALLOCATION AND COSTXI.6. PROBLEM SOLVINGXI.7. OUTGOING & INCOMING CALLSXI.8. LISTENa. LISTENING - WHEN YOU ARE NOT LISTENING TO ME ?b. WHEN YOU ARE LISTING TO MEc. LISTENING HAS TO DO WITH ATTITUDEd. THINGS TO DO WHEN CALLINGXI.9. USING THE HOLD FUNCTIONXI.10. CONFIRM UNDERSTANDINGXI.11. BUILD YOUR PERSONALITYa. BE COMPETITIVEb. HOW TO BEGINXI.12. RIGHT PARTY CONTACTa. DELAY AND DISPUTE: WHAT TO DOb. DIVIDING MY DIARYc. SELLING ITd. HANDLING DIFFICULT CALLSCHAPTER XII. QA SCORE CARDCHAPTER XIII. DEBT COLLECTION CALL GUIDEXIII.1. CALL STRUCTUREXIII.2. NEGOTIATION MATRIX - FOLLOW IN ORDER OF BEST OUTCOMEa. NEGOTIATION 1b. NEGOTIATION 2c. NEGOTIATION 3d. NEGOTIATION 4e. NEGOTIATION 5f. NEGOTIATION 6g. NEGOTIATION 7XIII.3. CONFIRMATION OF ARRANGEMENTXIII.4. UPDATING & CLOSINGCHAPTER XIV. INTRODUCTION TO A CALLXIV.1. REASON FOR CALLXIV.2. NO TO PAYMENT ARRANGEMENTXIV.3. OBJECTIONS TO PAY DUE TO:a. UNEMPLOYEDb. UNDER DEBT REVIEWc. SEQUESTRATION AND ADMINISTRATIONd. DISPUTE ACCOUNTCHAPTER XV COMPUTER SKILLSXV. INTRODUCTION TO COMPUTER SKILLSXV.2. KNOW YOUR KEYBOARDXV.3. MICROSOFT WORD RE-FRESHERXV.4. THE MICROSOFT OFFICE BUTTONXV.5. THE USE OF YOUR MOUSECHAPITER XVI. HANDS IN PRACTICE (LAB)a. CV & INTERVIEWb. CALL MODEL:- RPC (WORKING/NOT WORKING)- RPC (WORKING BUT UNDER DEBT REVIEW, PRESCRIPTION, SEQUESTRATION OR ADMINISTRATION) OR RAISED QUERIES- CPC- WPC

Skills

Reviews