Effective Debt Collection Strategies and Techniques

A business deal should not be considered a “done deal” until payment for goods and services is collected. However, customers for their own reasons sometimes miss their payment obligations. It is the role of a professional debt collector to persist and to use the best possible technique and strategy to get the payment due settled. 

In this 1day workshop you will learn techniques and strategies that will improve your performance in the profession of collections.

Course Objectives: 
  • Articulate their understanding on the principles of debt collections and to apply this knowledge into the workplace
  • Know when to initiate collection and the phases of collection  that they would be involved in
  • Identify the type of debt collection scenarios they are in and to adopt the appropriate approach
  • Cultivate a standard for their professionalism as a debt collector
  • Understand the format and tone of written communication in debt collection and to adapt that style in their oral communication 
  • Know the 3 stages in professional collection call  and  to use the telephone effectively  in their debt collection 
  • Cultivate strong emotional quotient and to develop the golden voice of collection
  • Research on customers and know how to negotiate during the process of commercial 
Target Audience: 
Manager
Personal Assistant
Project Manager
Sales Personnel
In-house Course Fee: 
RM4000 per day
Public Course Fee: 
580
Course Methodology: 
  • Individual work
  • Group work
  • Peer group sharing
  • Role play
  • Videos
  • Mini lectures
  • Communication  templates and scripts
  • Case studies
  • Participant workbook
Trainer: 
Course Outlines: 

Session 1: The Principles of Debt Collections

Key Learning Areas

  • Early key points to consider
  • Principles of Collections
  • Internal methods for improving collections
  • Activity: Case Study

Session 2: When does Collection start?

Key Learning Areas

When do I start collecting?

  • Whom do I contact?
  • How do I say or write it?
  • How often do I follow-up?
  • When should I consider litigation? 
  • Activity: Group Discussion and Mini Lecture from facilitator

Session 3:  Debt Collection Rules

Key Learning Areas

  • Common problems in debt collection
  • Types of debt collections
  • Standard of the professional collector
  • Activity: Mini lecture and peer group sharing

Session 4: Written Communication in Debt Collection

Key Learning Areas

  • Format before content –“It is not what you say; it is how you say it?”
  • Vocabulary to use
  • Letter, Fax and Email
  • Activity: Working on template examples

Session 5:  Debt Collection -- Assertive without Being Aggressive

Key Learning Areas

  • “Fluid” facts of Collection
  • Are you assertive enough?
  • Are you too aggressive
  • Activity: Personality Quiz

Session 6:  Telephone Collection Call

  • Key Learning Areas
  • Types of mistakes made in telephone collection
  • The 3 Phases of a Professional Collection Call
  • How to deal with excuses
  • Activity: Role Play

Session 7: The Special Collection Voice

Key Learning Areas

  • Tone
  • Pace
  • Clarity
  • Activity: Demonstration and Practice

Session 8: Negotiating Techniques for Commercial Collection

Key Learning Areas

  • Know yourself
  • Know your opponent
  • Manage your emotional buttons
  • Position vs. Interest
  • Considering BATNA
  • Activity: Role Play

 

language: 
English
Number of days: 
1

Register Now

Contact Us

Email: info@tni.my

Jimmy Ong Tel: +61 413 777 894 (Call on Whatsapp for free)