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Winning Debt Collection Skills “The Collection Communication”

23-24 Oct, 2023, AC Hotel Kuala Lumpur by Marriott (Formerly known as Vistana Kuala Lumpur)

IPA Training is Registered with

Venue Details

AC Hotel Kuala Lumpur by Marriott (Formerly known as Vistana Kuala Lumpur)
9, JALAN LUMUT, OFF JALAN IPOH, 50400 KUALA LUMPUR - 50400

https://www.marriott.com/en-us/hotels/kulka-ac-hotel-kuala-lumpur/overview/?scid=45f93f1b-bd77-45c9-8dab-83b6a417f6fe&y_source=1_MTQ2NDU5MDEtNDgzLWxvY2F0aW9uLndlYnNpdGU%3D


Phone : (603) 4042 8000

Contact us

FOR COURSE DETAILS

Juliany,

Office: 03 2283 6109

Mobile: +60 122281247

juliany@ipa.com.my

Phoebe,

Office: 03 2283 6100

Mobile: +60 193637822

phoebe@ipa.com.my

Bee Teng,

Office: 03 2282 6112

Mobile: +60 172566121

beeteng@ipa.com.my

FOR CUSTOMISED IN-HOUSE TRAINING

Jane,

Office: 03 2283 6101

Mobile: +60 129418251

jane@ipa.com.my

Keith,

Office: 03 2283 0000

Mobile: +60 162272735

keith@ipa.com.my

ADDRESS

A-28-5, 28th Floor, Menara UOA Bangsar,
No.5, Jalan Bangsar Utama 1,
59000 Kuala Lumpur

FOCUSING ON
  • The Importance Of Debt Collection
  • Learn From Past Mistakes
  • Role & Mindset Of Debt Collector
  • Essence Of Strong Communication Skills
  • Common 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
  • Scripts & Notices
  • Monitoring Reports
  • Be Compliant
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 methods of collection make 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
  1. Equipping credit control and collection staff with the necessary skills in effective collection.
  2. Applying pressure in collection but at the same time maintaining positive relations.
  3. Dealing with difficult customers and in control of the situation.
  4. Achieving company’s objectives.
AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Being more effective in debt collection.
  2. Obtaining the skills and confidence in selecting the appropriate methods and implementing collection strategies in the right situation.
  3. Recognizing and effectively managing the customer’s avoidance of the debt recovery.
  4. Customizing and constructing an effective collection procedure.
  5. Communicating effectively with debtors.
  6. Raising the ability to achieve company’s objectives.
WHO SHOULD ATTEND

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

Level of Understanding: Intermediate

METHODOLOGY
Full participation is required to make the training much energized and fun-filled.
Role Plays, Individual & Team Activities will be included.
DAY 1
9:00

THE IMPORTANCE OF DEBT COLLECTION

  • Consequences of collection failure
  • Importance of Win-Win relationship
 

LEARN FROM PAST MISTAKES

  • New debt collectors without any training
  • Knowing the emotions of debtors
  • Lack of communication skills
  • Using threatening words
10:45

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
 

ESSENCE OF STRONG COMMUNICATION SKILLS

  • Know that you are talking to debtors and not potential customers
  • Use professional phrases to avoid misunderstanding and provoking anger
  • Have empathy when talking to debtors
  • Be clear and concise
12:00

COMMON METHODS OF COLLECTION

  • By Telephone (most effective and friendly)
  • By Face to Face
  • By Collection Agency
  • By Legal Action
1:00 Lunch
2:00

COLLECTION PROCESS

  • When to collect ( Timing)
  • How to collect (Methods)
  • What to say (Scripts)
 

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
3:45

TIMING OF MAKING COLLECTION CALLS

  • Normal Hours
  • Abnormal Hours
 

INVESTIGATE, CLASSIFY AND QUALIFY PROBLEM ACCOUNTS

  • Current
  • Overdue
  • Doubtful
5:00 End of Day 1
DAY 2
9:00

HOW TO PREVENT CURRENT-OVERDUE-DEAD ACCOUNTS

  • Tight Monitoring
  • Effective Reminding Systems
  • Listen to customers problems
  • Face to face discussions
  • Restructuring Payment Schemes
  • Legal Action (last resort)
 

GIVING OF INCENTIVES TO GET CUSTOMERS PAY PROMPTLY

  • Trend Watching
  • Good motivational move for prompt payment
10:45

GETTING THROUGH GATEKEEPERS (SCREENERS)

  • How to get rid of such screeners
  • How to get straight to the debtors
12:00

DEALING WITH DIFFICULT, ABUSIVE, THREATENING & RUDE DEBTORS

  • Control Emotions
  • Mirror Image
  • Maintain Professionalism
1:00 Lunch
2:00

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
 

SCRIPTS & NOTICES
Always get ready for easy reference and attention

  • Telephone
  • Face to face
  • Last Resort Action
3:45

MONITORING REPORTS

  • Details of account
  • Status of default
  • Calls made during the month
  • Comments/Further Action
 

BE COMPLIANT

  • Know the collection laws in your area
5:00 End of Course