Credit Management & Debt Recovery

by Peak Success Abundance Claim Listing

Giving credit in any business transactions has its benefits as it could generate larger volume of business; however, there is also the risk of not being able to collect when the credit term is due.

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img Duration

2 Days

Course Details

Giving credit in any business transactions has its benefits as it could generate larger volume of business; however, there is also the risk of not being able to collect when the credit term is due.

Credit losses due to fraudulent transaction and non-payment will pose a great strain on your company’s resources. Therefore, it is the prime concern of today’s management is to maximize debt recovery and prevent dissipation of debtor’s assets.

Bad debts are the result of a combination of factors such as weak controls, improper documentation, poor follow up and often times an oversight of some basic yet seemingly unimportant details. Any of this could happen to even the experienced credit practitioners and could provide the customers with tell-tale signals that can be detrimental to diligent credit efforts.

This 2-day course is aimed at assisting you to identify potential debtors, take precautionary mea­sures, implement effective credit policies, conduct accurate credit evaluation & risk analysis as well as reduce exposure.

 

Our experienced & qualified credit management expert will share with you the following:

  • Credit management & control policies that are effective, practical & easy to follow
  • Techniques in credit evaluation & risk assessment
  • How to set up a national database of consumer & commercial credit information
  • Workable debt collection techniques
  • Disposition through reputable collection agencies
  • Methods of reduction of overdue & measurement of credit performance
  • Legal aspects of debt recovery, obtaining judgement & enforcing judgement
  • How to negotiate out-of-court settlements

 

Learning Outcomes:

  • Effective Credit Evaluating of Corporate Risks
  • Credit Information and Investigation Techniques
  • Symptoms of Problematic Debt
  • Practical Pointers for Effective Collection
  • Pre-Consideration of Debt Recovery – The Legal Aspects
  • The Art of Negotiating a Settlement
  • Reporting and Convicting Debtors
  • The Pitfalls to Avoid

 

Who Must Attend:

  • This highly practical and timely course is an essential course for ALL Credit, Financial and Marketing Executives and Officers who want to arm yourselves with the necessary information to conserve your cash resources, maximize profits and generate much-needed cash flow.

 

Course Content & Methodology:

  • 1. Fundamentals Of An Effective Credit Management Policy
  • Credit Period & Credit Limit
  • Credit Ratings Of Customers
  • Applying Stringent Credit Standards
  • 2. Corporate Risk Valuation & Assessment
  • Assessment Of New And Existing Accounts
  • Sources Of Credit Information
  • The 5Cs Of Credit
  • Financial Analysis
  • Risk Analysis
  • Checklist For Evaluating Individuals
  • Checklist For Evaluating Businesses
  • Setting Appropriate Credit Rules
  • Credit Policies
  • Collection Procedures
  • Others (Proper Record-Keeping etc)
  • Case Study & Exercise
  • 3. Setting Appropriate Credit Rules
  • Maximum amount of credit to be granted
  • Maximum period of credit allowed
  • Minimum order quantity
  • Clear instructions on payment teams
  • Unambiguous rules about late payment interests
  • Group Discussion & Comments
  • 4. Other Pertinent Issues Of Credit Control
  • Stick to the rules
  • Continuous monitoring and review
  • Decisive and timely remedial actions
  • Importance of a tight credit control policy and the significance of bad debts
  • 5. Formulating Successful Collection Strategies For Faster Debt Recovery
  • Group Project & Presentation
  • 6. Absconding Debtors
  • What The Term Means
  • Attaching The Assets
  • Arresting The Debtor
  • 7. Executing Proceedings
  • Methods Of Enforcement
  • Writ Of Seizure And Sale
  • Attachment Of Shares
  • Garnishment Proceeding
  • Stages Of Collection Procedures
  • Collection Letters, Fax And Telephone Calls
  • Spot Payment Delaying Tactics
  • Minimizing Overdue
  • Detect And Prevent Fraud
  • Proper Documentation
  • Exercise & Case Example
  • 8. The Various Ways On Debt Recovery
  • Normal Routine Recovery Procedures
  • Telephone Calls
  • Personal Visits
  • Use Of Outside Agencies For Debt Collecting
  • Use Of Psychological Threats And Strong Tactics
  • Group Discussion & Feedback
  • 9. Tips On Faster Debt Recovery To Realise Better Cash Flows
  • 10. The Use Of Litigation Procedures To Debt Recovery
  • General Procedure On Legal Actions
  • 11. Innovative Strategies & Pitfalls To Be Avoided In Debt Recovery
  • Pitfalls To Be Avoided In Debt Recovery
  • 12. Legal Aspects Of Debt Recovery
  • Filling Summons
  • Serving Process
  • Mention Hearing
  • Obtaining Judgement
  • 13. Summary Judgement
  • Meaning And Purpose
  • Procedure For Applying
  • Advantage & Benefit
  • Requirements For Use
  • 14. Motivating Your Collection Staff
  • Formulating Collection Incentive Scheme To Result In A Win-Win Situation
  • Using Other Monetary And Non-Monetary Rewards
  • Course Methodology
  • Expert input, stimulating discussions, practical exercises, thought provoking case studies, group presentations, revision of key points
  • Kuala Lumpur Branch

    Unit 6, Tingkat 3, Blok B, Kuala Lumpur

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