Credit Recoveries Limited offers specialised accounts receivable training. We can work with your team to optimise your processes in-house, empowering you to:
We have trained leading businesses from all industries since 2015. Our courses have focussed on
What processes are you currently using?
Do you have a written credit policy defining (among other things):
who extends credit
different credit thresholds
what checks are in place with regard to personnel
documentation/verification necessary for credit assessment
reports/targets
how payment is to be collected?
Different roles of the credit team
Disputes resolution
Common account errors
Statement/invoice formatting and timing
Credit holds
Sales v Credit conflict
Centralisation and transparency
Survival rates of businesses
Different types of entities (and relevance for assessment/security)
Information required for credit assessment
Accessing and understanding Credit Reports
Business ratios and risk factors
Refusing credit
The cost of credit
Personal Property Security Register (PPSR)
Legal bombshells
Voidable Preference
No Asset Procedure
Credit Contracts & Consumer Finance Act 2003
AML/CFT Act 2009
Human Rights Act 1993
Minors Act 1969
Privacy Act 2020
Debtors Redress
Obtaining & giving references
Ongoing supervision
Full and final settlements
Structuring reports
Commonly used KPIs
Accrual accounting
Writing off bad debts
how to improve your cash flow through write-offs
The statistical likelihood of collection over time
How to define a systematic collection plan
Reasons debtors don’t pay
Common types of debtors:
how to best deal with them
Corporate debtors
Dead debtors
The relevance of the cost of credit
Pre communication checklist
What makes a debtor pay
Options to present to debtors
Gatekeepers/child gatekeepers
Teamwork tactics
Threatening behaviour
Allegations of harassment
Dealing with debtor emotions/tactics:
crying
indignation
aggression
friendliness
lying
“friend of the boss”
Countering procrastination
“But I’ve always paid late”
Countering debtor challenges and offers
Diary notes
Letters / Emails
structuring
formatting
tracking
SMS
Phone calls
privacy bombshells
call preparation
leaving messages
customers who don’t pick up
hours to call
hang-ups
Necessary Terms of Trade clauses for communication
What to look for in a debt collection agency
How do agencies deal with your bad debts?
What information do they require?
How to pass collection costs on to the debtor
Repossession
CCCFA 2003 (and implications of the 2015 amendments)
Disputes Tribunal
Costs
Process
Preparing for success
District Courts
Costs
Process
Preparing for success
Notice of Claim
Enforcing judgments
Key clauses to increase enforceability