Effective Debt Collection Skills - The Collection Communication

23-24 Jul, 2018, Vistana Kuala Lumpur

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Carol Chiam a.k.a. O.K.Chiam is a professional trainer, mentor, motivator, public speaker, customer service guru and an author of 8 books.

 

She has with her more than 25 years of vast working exposure in more than 7 industries, especially the financial and service sectors. Her professional qualifications and wide exposure not only made a her successful trainer but given her an extra edge in writing comprehensive books to share her knowledge.

 

She has with her no less than 15 years experience in training & development of staff and agents in leading multinational companies. She is a seasoned professional trainer for public and in house programmes. Her participants include from large Multinational Companies, leading Conglomerates, Financial & Service Sectors, Oil & Gas Companies, Fast Moving Consumer Goods Industries (FMCG), Construction Sector, Manufacturing Sectors, Ministries, GLCs, SMIs, Universities, IT sectors, etc.

 

Carol’s debt collection courses are very well accepted and have been successfully conducted for in house and public programmes for participants from all over Malaysia.

 

She is an approved PSMB Trainer with more than 15 years training experience. Besides debt collection courses, she is a popular and seasoned trainer in sales management, customer focus management, people management, presentation & communication skills and English grammar.

 

Carol believes that her success in training is very much due to her ability to interact with her participants in 3 languages i.e. English, Bahasa Malaysia and Mandarin and also, her vast exposure of more than 25 years in several industries, especially in multinational companies.

 

A strong believer in reinventing and continuous improvement, she places attitude as the most important criteria for any success. She strongly endorses the “keep learning” habit for personal development.

Venue Details

Vistana Kuala Lumpur
9 Jalan Lumut Off Jalan Ipoh, 50400 Kuala Lumpur,
Phone : 03 4042 8000

Click For Hotel Location

Contact us

Juliany,
03 2283 6109
juliany@ipa.com.my

Phoebe,
03 2283 6100
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Jane,
03 2283 6101
Jane@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

COURSE HIGHLIGHTS
  • Introduction: The Importance Of Debt Collection
  • Role & Mindset Of Debt Collector
  • Methods Of Collection
  • Collection Process
  • How To Use The Telephone Effectively In Debt Collection
  • Timing Of Making Collection Calls
  • Investigate, Classify And Qualify Problem Accounts
  • How To Prevent Current-Overdue-Dead Accounts
  • Giving Of Incentives To Get Customers Pay Promptly
  • Getting Through Gatekeepers (Screeners)
  • Dealing With Difficult, Abusive, Threatening & Rude Debtors
  • Understanding When A Debt Might Not Be Collectable
  • Face To Face And Legal Action Should Be The Last Resort Action
  • Scripts & Notices
  • Monitoring Report
OVERVIEW

Collection of overdue accounts is a very common problem for business, especially in bad times. To deal with this problem effectively while maintaining relationships with the customers at the same time, need special communication skills. Selection of the right method of collection makes the collection more effective and positive.

 

Debt collectors should be aware of the negative results not only bring cash flow problems to the company but at the same time cannot have hostile relations with the customers. In all debt collections, tight monitoring and effective reminder systems are keys to successful recovery.

 

Collection communication is very important in debt collection. An effective collection communication is required to achieve the collection goals and at the same time maintaining a warm relationship with the customers.

OBJECTIVES
  • Equipping credit control and collection staff with the necessary skills in effective collection.
  • Applying pressure in collection but at the same time maintaining positive relations.
  • Dealing with difficult customers and being in control of the situation.
  • Achieving company’s objectives.
WHO SHOULD ATTEND

Collection Staff, Sales Staff and all Front-line Staff involved in debt collection.

 

Level of Understanding: Clerical to Executives

METHODOLOGY

Combination of interactive lectures, group discussion, role plays, individual & team activities are used for maximum effectiveness. Full participation is required to make the training much energised and fun-filled.

AFTER ATTENDING THIS COURSE,
YOU WILL RETURN TO YOUR JOB…
  1. Acquiring the skills and confidence in selecting the appropriate methods and implementing collection strategies in the right situation.
  2. Recognising and effectively managing the customer’s avoidance of the debt recovery.
  3. Customising and constructing an effective collection procedure.
  4. Communicating effectively with debtors.
  5. Raising the ability to achieve company’s objectives.
 
DAY ONE
9:00 INTRODUCTION: THE IMPORTANCE OF DEBT COLLECTION
  • Meaning of debt collection
  • Reasons for debt collection
  • Consequences of collection failure
  • Importance of Win-Win relationship
9:45 ROLE & MINDSET OF DEBT COLLECTOR
  • Role - Company’s interest
  • Mindsets:
    - 1st Mindset - Think of Company’s Interest & your duty
    - 2nd Mindset - Think in the capacity of debtor
10:45 METHODS OF COLLECTION
  • By Telephone(most effective and friendly)
  • By Face to Face
  • By Collection Agency
  • By Legal Action
11:30 COLLECTION PROCESS
  • When to collect ( Timing)
  • How to collect (Methods)
  • What to say (Scripts)
12:15 HOW TO USE THE TELEPHONE EFFECTIVELY IN DEBT COLLECTION
  • Maintain a Professional image throughout communication
  • Maintain amicable relations through good relations skills
  • Listen to customer’s problems and try to understand
1:00 Lunch

2:00 TIMING OF MAKING COLLECTION CALLS
  • Normal Hours
  • Abnormal Hours
3:00 INVESTIGATE, CLASSIFY AND QUALIFY PROBLEM ACCOUNTS
  • Current
  • Overdue
  • Doubtful
3:00 HOW TO PREVENT CURRENT-OVERDUE-DEAD ACCOUNTS
  • Tight Monitoring
  • Effective Reminding Systems
  • Listen to customers problems
  • Payment Schemes
  • Legal Action ( last resort)
5:00

End of Day One

 
DAY TWO
9:00 GIVING OF INCENTIVES TO GET CUSTOMERS PAY PROMPTLY
  • Trend Watching
  • Good motivational move for prompt payment
10:00 GETTING THROUGH GATEKEEPERS (SCREENERS)
  • How to get rid of such screeners
  • How to get straight to the debtors
11:00 DEALING WITH DIFFICULT, ABUSIVE, THREATENING & RUDE DEBTORS
  • Control Emotions
  • Mirror Image
  • Maintain Professionalism
12:00 UNDERSTANDING WHEN A DEBT MIGHT NOT BE COLLECTABLE
  • Evaluate and discuss for solutions with superior
  • Lay out pros and cons of Legal Action
  • Make a final attempt to explain to debtors of the ageing consequences
1:00 Lunch

2:00 FACE TO FACE AND LEGAL ACTION SHOULD BE THE LAST RESORT ACTION
  • Pros and Cons of above actions
3:00 SCRIPTS & NOTICES
  • Always get ready for easy reference and attention
    - Telephone
    - Face to face
    - Last Resort Action
4:00 MONITORING REPORT
  • Details of account
  • Status of default
  • Calls made during the month
  • Comments/Further Action
5:00

End of course