Effective Credit Control training Course

Accounting, Finance and Budgeting Training

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Effective Credit Control training Course

Course Overview:

The Effective Credit Control Training Course aims to provide the participants with the skills in managing credit risk and pursuing payment.

It begins with the concepts of credit control, methods of extending credits safely, and the legal aspects of credit control/ management such as the Late Payment of Commercial Debts (Interest) Act 1998.

They will be trained on the use of credit application forms, determination of credit worthiness, and how to deal with the usual alibis for non-payment. The training also covers how to conduct collection procedures, including but not limited to, telephone calls and letters, as well as third-party measures i.e. Debt collection agencies or Solicitors. Other issues discussed include using statutory demands, bankruptcy and other legal action to enforce a judgment to recover the debts.

This course is suitable for professionals who are engaged in business or finance responsible with credit accounts as it gives a well rounded perspective on how to manage credit risk and bad debts as well as effective cash flow management.

Course Objectives:

At the end of this Effective Credit Control Training Course, you will be able to:

Understand why controlling credit is important and what skills you 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) Act.
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.

Who Should Attend?

Effective Credit Control training course is ideal for:

Anyone who handles a business’s finances and manages customer accounts should learn how to effectively control credit. If you’re planning to become a dedicated credit controller who chases payments, this course will be especially beneficial. No previous knowledge is required so anyone at any level of a business can take the course.
Those who want to gain an understanding of the principles and practice of controlling credit & managing debt.
People in an administrative, business, or finance role which includes responsibilities for managing credit accounts, and ensuring that debt is managed promptly and efficiently.

Course Outlines:

Introduction to Credit Control