Training Course
Syllabus:
Collections 101: Getting Delinquent Accounts
to Pay up! - Accounting / Collections Training Seminar
Get the Money Your Organization Is Owed — AND
Make Absolutely SURE You’re Complying With Collections Law
There’s no question about it — collections can be an incredibly difficult
and stressful job. You are constantly faced with excuses, delays, and the
frustration of dealing with people who just don’t want to talk to you. But
getting paid for the products and services you provide is critical for the
financial health of your organization.
Even more importantly, you need to be absolutely sure that all collection
attempts are 100% compliant with the law — or you’re leaving your
organization vulnerable to dangerous and expensive lawsuits.
Whether collections is a daily part of your job or just an occasional task,
if you’re ever responsible for trying to get delinquent accounts to pay up,
you need this seminar.
In one informative and practical day, we’ll cover the essentials of
collecting money. You’ll get an overview of the entire collection management
process, including the skills and techniques that dramatically increase your
odds of getting paid. You’ll learn how to keep your organization out of
legal trouble by ensuring that the collection of past-due accounts is done
in a legal and proper way. You’ll understand when and how to work with
third-party collectors like collection agencies and attorneys.
Plus, you’ll even get practical tips on the special situation of checks,
notes, and guarantees, along with the special challenges involved in
collecting money from international accounts! It’s a full day of information
that you can’t find anywhere else — and that you absolutely need to know.
Make sure that you’re contacting and collecting from debtors in a safe and
legal way — and get the money that your organization is owed! Enroll today!
Collections 101: Getting Delinquent
Accounts to Pay up! Agenda:
Accounts Receivable Affects the Financial
Health of Your Organization: A Collections-Centric Overview
- Accounts receivable and your financial
statements
- Cash flow: the two most important words in
business
- Effective credit management: understanding
credit risk
- Developing a credit policy that works for both
you and your customers
- How to use discounts and late fees to get paid
earlier
- The four principles of collection management
- The importance of having a written collection
policy
- Consistent follow-up: the art of showing up
Communication and Collecting on Delinquent
Accounts
- Mastering the use of telephone collection
skills
- Getting past human and electronic gatekeepers
- What to do when you can’t talk to your debtor
- Techniques for working with customers who
can’t or won’t pay
- The 10 most common excuses and how to deal
with them
- Negotiating the payment of past-due accounts
- How to set up payment arrangements
Collection Letters, Skip Tracing, and
Technology
- What collection letters can and cannot do to
help you get paid
- The five basic types of collection letters
- The important elements of standardized
collection letters
- Skip-tracing essentials for locating missing
debtors
- Best skip-tracing resources and how to use
them
- How technology impacts collection efforts
- An overview of collection management software
and services
- The advantages and disadvantages of email in
collecting money
- How to use social media to help you get paid –
and what you can’t legally do
- Other uses of technology to speed up the
collection process
Complying With Collection Laws
- The Fair Debt Collection Practices Act and
what it means for creditors
- The Fair Credit Reporting Act and how to
report slow payers and do credit checks
- Other important collection laws and what you
need to know
- The essentials of bankruptcy: important
bankruptcy statistics
- Understanding Chapter 7, Chapter 11, and
Chapter 13
- The steps to take when customers tell you they
have filed for bankruptcy
Special Situations and How to Handle Them
- Crossing borders: what you need to know about
collecting money internationally
- How to protect your business with
international collections
- An overview of working with checks, notes, and
guarantees
- The steps to take when you get a bad check
- When not to accept a customer’s check – and
how to tell
- When and how to use promissory notes and
guarantees
Dealing With Severely Delinquent Accounts
- What to consider before taking your debtor to
court
- How to work with collection attorneys
- Doing it yourself: the ins and outs of
small-claims court
- Turning debt over to the pros: when and how to
use collection agencies
- How to find a good collection agency
- Questions to ask a prospective collection
agency
Seminar Time:
Seminar
Check-In: 8:30AM Seminar Program: 9:00 AM - 4:00 PM
Your
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