Diploma in Credit Control and Debt Management

Course Code: AS307
Award Level 3, Similar to - NVQ Level 3, A-Level

This is the ASET Diploma in Credit Control & Debt Management This programme is designed for people who wish to gain an understanding of principles and practice of controlling credit and managing debt in commercial organisations. You will also know how to describe methods of controlling credit, Investigate methods of credit checking, Examine the use of the courts and debt management agencies in recovering debt, Describe how to collect debt by letter and telephone.

Course Content

The course is divided up as three modules, as follows:

Unit 1 – Credit Control

Credit
Cutting down on credit
Bad debts
Sales discounts

Is my customer credit worthy?

Credit application form
Trade references
Bankers references
Credit checks
Credit insurance

Credit control routines

Terms and conditions of sale
Interest
Invoices
Aged debt analysis and debt turn

Debt recovery through the courts

The Courts and their powers of collection
3 track system – Full description in unit 2

Statutory demands, Insolvency and Bankruptcy

Statutory demands
Insolvency
Winding up petitions
Voluntary arrangements
Administration orders

VAT and Tax relief for Bad debts

What VAT relief is available?
How to claim relief
Tax relief

Unit 2 – Debt Management Agencies

Credit checking agencies

An explanation of what credit checking agencies do
The information they hold
How to use their services.

Factoring companies

A history of factoring,
an explanation of how their products work
The services they can offer.

Specialist Legal Services

What services are on offer
How to use their services effectively

The Courts

How and when it is appropriate to use the court
Advice on applying for legal resolution
The 3 track system
Small Claims Track
Fast Track
Multi track
Costs verses Settlement – Is it worth it?

Debt Collection Agents

Bailiffs
What are they?
What are the costs involved?
What are their collection powers?
Sheriffs
What are they?
What are the costs involved?
What are their collection powers?
Private Debt Collections agents
What are they?
What are the costs involved?
What are their collection powers?

Unit 3 – Communication

Telephone Communication

Telephone skills
Handling problems and objection
Dealing with difficult customers and controlling anger
How to gain commitment to pay

Written Communication

When to choice written forms of communication
Email verses letters – When is each format appropriate?
Sample letters
Request for payment
Demand for payment
Legal demand for payment

How to deal with customer responses

Common responses and excuses
How to reply to customer responses
How to gain commitment

Course Duration

Students may register at any time and have a full year to complete their studies.

Assessment

The course will take the form of a series of written assignments which are submitted and marked by your tutor. There is no external examination.

Study Method

The course is designed for study by distance learning at home or at work. Students receive a course manual, assignments and study guide plus tutor support by mail or email. You can start at any time and plan your studies over a period of up to one year from the time of registration.

Qualifications

The course leads to the award:

Diploma in Credit Control & Debt Management (Level 3) from ASET, a leading UK awarding body recognised by the Qualifications and Curriculum Authority.