Seat Time: 1.5hrs - Desc:
This course will introduce the learner to the important features comprising intermediate collections. It will detail the credit cycle, effective portfolio management, and useful negotiation and conflict resolution strategies. Upon successful completion of the course, the learner will have a better understanding of the following:
- Collections Planning Tools
- Bad Debt Warning Signals
- Best Practices
T1. Phases of the Credit Cycle: This topic will introduce the learner to internal collections functions, categories of borrowers, phases of the credit cycle, product planning, and credit acquisition.
T2. Portfolio Indicators: This topic will introduce the learner to portfolio indicators, credit reporting, and the Debt to Burden Ratio (DBR).
T3. Collections Planning Tools: This topic will introduce the learner to the various channels of communication available to the Collections Department, guidelines for dealing with delinquent customers, creating collections letters, and outsourcing.
T4. Negotiation and Conflict Resolution: This topic will introduce the learner to effective negotiation skills, the differences between negotiating and bargaining, standards for dealing with customers, interpersonal skills, and collections terms and theories.
T5. Bad Debt Warning Signals: This topic will introduce the learner to insolvency, the many forms of fraud, identity theft, red flags of identity theft, and application misrepresentation.
T6. Collections Best Practices: This topic will introduce the learner to proactive strategies for preventing customer from defaulting, recouping losses, write-offs, providing quality customer service, sub-prime loans, and multichannel communication.