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(MC) Enhancing Your Debt Recovery Skills & Improving Your Company’s Collection Index

11-12 Jan, 2024, Wyndham Grand Bangsar Kuala Lumpur (Formerly Known As Pullman Bangsar Kuala Lumpur)

IPA Training is Registered with

Venue Details

Wyndham Grand Bangsar Kuala Lumpur (Formerly Known As Pullman Bangsar Kuala Lumpur)
No 1, Jalan Pantai Jaya, Tower 3, 59200 Kuala Lumpur, - 59200

https://all.accor.com/hotel/ 7962/index.en.shtml


Phone : (603) 2298 1888
Fax : (603) 2298 1999

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
  • Increase in Collection after the training
  • Financial Analysis Techniques – Credit Affirmative
  • Analysing Yourself and Sharpening your Collection Skills
  • Analysing Your Debtors
  • Dealing Effectively with Excuses
  • Recovery Strategies (Non Legal Process)
  • Recovery Strategies (Legal Process)
  • Review of Documentation
  • Pre-considerations for Legal Proceedings
  • Legal Procedures Involved in Debt Recovery
  • Court Orders & Enforcement
  • Bankruptcy – latest developments
  • Debt Recovery During & After the Covid-19 Pandemic
INTRODUCTION

During these uncertain times of pandemic and War, recovery of debt has become a topic of concern. Many questions arise as to the viability and possibility of actually being able to recover outstanding debts. We address these issues and more in this course.

This specially tailored Debt Recovery course, focuses on enhancing collection. The main aim of these course is to ensure that the participants are able to improve themselves by acquiring the right tools, in order to continuously upgrade themselves and achieve the targets / goals set by their organization.

For those participating in collection, they will be equipped with the right tools, techniques and professional skills needed to collect effectively and by design, rather than by default without losing the customer while building a lasting customer relationship and opportunity for future business relationship.

The whole course starts with an analysis of current outstanding debts and the customers behind these outstanding amounts.

COURSE LEARNING OUTCOMES (CLO)
  1. Comprehend what it takes to be an efficient and productive collector.
  2. Display workable collection techniques to maximize their debt recovery.
  3. Classify the legal issues and processes in Debt Recovery.
  4. Outline the latest as per Debt Recovery.
  5. Practice and improve their overall collection skills and collection rates.
  6. Able to understand workable collection techniques to maximize their debt recovery.
  7. Able to Master negotiation skills so as to be able to handle any type of customers.
  8. Able to learn the effect of Covid-19 Pandemic in debt recovery.
  9. Able to make the collection process less stressful.
WHO SHOULD ATTEND
Directors / Managers / Finance Debt staff / Executives / Unit Heads / Team Leads / Supervisors / Business owners / Legal Dept / Collectors, and anyone who is in the business
of collection
METHODOLOGY

Lectures / Activities / Group Presentations / Videos
Notes / Workshops / Post-Course Assessment

This training sessions will be fully accompanied by activities and workshops, so as to plan and put into practise what is learnt and discussed during the training. This will ensure maximum results from the training.

DAY 1
9:00

Module 1: ANALYSING YOURSELF – RESHAPING PERSONALITIES

  • The importance of making the right ‘first impression’
  • Assessing your own personal communication style and how this affects your results


 

ANALYSING YOUR DEBTORS

  • Types of debtor
    - The delaying debtor
    - The genuine debtor
    - The cash-flow or hardship problem debtor
    - The ones who never intended to pay
 

METHODOLOGY AND TECHNIQUES IN COLLECTION

  • Collection techniques
    - Get the customer !!
    - Get a strong Promise To Pay (PTP) !!
    - Get a committed PTP !!
10.45

 Module 2: THE DEBT LANDSCAPE & BACKGROUND OF YOUR ORGANIZATION

  • An overview of the latest debt issues
  • Establishing your customers who are in arrears
  • The amounts owed to your organization and individual amounts owed
  • The most common problems in this area as experienced by you
  • Know your debtor
  • Workshop
 

Module 3: DEALING WITH EXCUSES FOR COLLECTORS

  • Do we need to accept them???
  • Common types of delaying tactics employed
  • Overdue payments & common excuses
  • Dealing with excuses
  • Different categories of customers
  • Different types of approach to excuses
  • Workshop

 

1:00 Lunch
2.00 DEBT RECOVERY TOOLKIT
 

Module 4: USING THE TELEPHONE AS AN EFFECTIVE TOOL FOR COLLECTION

  • Using the Telephone for collection
  • Plan & prepare
  • Use the right techniques
  • Use POWER – Prepare, Open strongly, Work thru’ objections, End with a commitment, React quickly to broken promises.
  • Politeness
  • Formality and Informality
  • Listener/Reader’s Point of View
  • 7 C’s of Communication to use: Clarity/ Completeness/Coherence/Conciseness/ Credibility/ Correctness / Continuity
  • Volume, pace, pausing and emphasis
  • Workshop

 

 

Module 5: THE EIGHT STEP COLLECTION PROCESS

  • Identify the consumer
  • Identify yourself
  • Request payment in full
  • Psychological pause
  • Determine the problem
  • Determine the solution
  • Close the deal
  • Update the consumer’s file
  • Workshop & Video presentation

 

3.45

Module 6: NEGOTIATION TECHNIQUES

  • Soft Negotiation
  • Hard Negotiation
  • Principles of Negotiation
  • Profile your Debtors
  • Focus on Large Customer
  • Visit your Debtor
  • Workshop and Video presentation

 

 

Module 7: NEGOTIATING EFFECTIVELY FOR A SETTLEMENT

  • Adopting a Win-Win approach
  • Use the SEF approach
  • Strategize your negotiation
  • Explore all options
  • Formulate a new agreement
  • Workshop and Video presentation

 

5:00 End of Day 1
DAY 2
9:00

Module 8: CREDIT ADMINISTRATION & AFFIRMATION ACTION

  • Evaluating Credit Worthiness of Corporate and Individual Clientele
  • Private Companies and Sole Proprietorship
    - The Differences in Risk Evaluation
  • Customer Risk Profile
    - Assessing Your Risk Factors
    - Why Borrowers Are Not Paying You?
    - Workshop


 

Module 9: LEGAL PROCEEDINGS TO RECOVER DEBTS – POST COVID-19

  • Pre-considerations
    - Statute of Limitations and Statute- Barred Debts
    - Capacity of Company to Sue
    - Cause OF Action – Post COVID-19
    - When Did It Arise
10.45

Module 10: CONTRACTUAL RELATIONS AND DEBT RECOVERY

  • Understanding Contracts in Debt Recovery
  • Formation of Contracts and its importance in the recovery of debts
  • Covid-19 and its implication on debt recovery
  • Court to decide on Force Majeure in relation to COVID-19
  • Court to decide on Frustration of Contract in relation to COVID 19
  • Workshop

 

1:00 Lunch
2:00

Module 11: LEGAL PROCEDURES INVOLVED IN DEBT RECOVERY 

  • Territorial Jurisdiction
  • Originating Processes to Recover Debts
  • Service of Documents
  • Court Procedures

 

3:45

Module 12: COURT ORDERS AND EXECUTION PROCEEDINGS

  • How to recover your debts successfully post COVID-19.
  • Summary Judgments
  • Attachment Proceedings
  • Charging Orders
  • Garnishee Proceedings
  • Bankruptcy / Winding-Up
  • Latest developments in Bankruptcy
  • Bankruptcy (Amendment) Bill 2016
  • Voluntary Arrangement introduced as a new rescue mechanism
  • Stringent requirements for service of bankruptcy notice and creditor’s petition
  • Increase of Minimum debt threshold
  • Stronger protection for social guarantors
  • Leave of court required to commence bankruptcy proceedings against other guarantors
  • New list of bankrupts to be allowed for discharge
  • Automatic discharge introduced
  • Workshop and Q & A session

 

5:00 End of Course