
Join the debt consultants training at Themis Mexico School to earn a certificate as a debt collector, with Udemy e-learning and physical classes in Cape Town and Lubumbashi.
Explore core debt collection terminology, including payment file, settlement offer letter, queries, clearance letter, trace, and paid-up letter, plus disputes, debit orders, payment plans, and installments.
Explore debt collection concepts including payment methods and channels, settlement mandates, acknowledgements of debt, debtors, default, debt review, and enforcement through administration and garnishment orders.
Explore sequestration and liquidation processes, including sequestration orders, capital amounts, balances, interest, arrears, defaults, and key debt-collection terms like right party contact and promise to pay.
Explore the debt collection act, including the council for debt collectors, registration requirements, and restrictions on improper conduct, harassment, and recovery of fees, with funds held in a trust account.
Explore the National Credit Act's framework for debt collection and protection of consumer rights in South Africa, covering debt counselling, debt review, over indebtedness, and reckless credit.
Explores prescription in debt collection, defining when a debt is extinguished under the prescription act, and details periods: 30, 50, 60, 3 years, with interruption when the debtor acknowledges liability.
Ornella explains how prescription can be delayed and interrupted in debt collection, via admission of liability (express or tacit) or forms like payment arrangements and summons.
Identify when a debt is prescribed, verify with prescription order or court papers, and ask debtors to email proof of prescription, noting country differences.
Learn to handle debt disputes by actively listening to objections, verifying outstanding balances, and presenting clear payment options and negotiated plans while educating debtors on interest, costs, and required documentation.
Explore debt collection strategies for payment options, including upfront settlements, discounts on old accounts, and at least 10% payment within 48 hours, plus reminders and EFT, debit order, and Easypay.
Explore effective debt collection strategies such as sending reminders with correct banking details, updating payment plans, confirming arrangements, explaining consequences and fees, and maintaining professional communication.
Learn how a debit order enables automatic payments from a consumer's bank account. Explore the debit order details, including salary-date alignment, correct account data, and customer education on consequences.
Explore salary dates in South Africa, the USA, and the UK, and learn to close or adjust debit orders with five working days lead time, cash payments, and scripting steps.
Explore cost generation and recovery in debt collection, with definitions and sources under South African law. Understand limits on calls, reasonable costs, and fees for consultations and statements or faxes.
Explain the cost structure of debt collection, detailing itemized expenses such as letters, emails, calls, credit bureau searches, and settlement accounts, and why these charges cover salaries and overhead.
Learn debt collection call rules, how to charge for calls to debtors and contacts, and document conversations. Explore acknowledgement of debt, clearance letters, statements, and cost strategies to motivate repayment.
Explore eight-step negotiation pathway for debt collection, guiding immediate payment requests, structured offers, and win-win solutions through preparation, probing, and confirming terms.
Learn to apply corporate soft skills for debt collection, including effective communication, active listening, probing, problem-solving, negotiating, and adapting to diverse customers to deliver customer service excellence.
Course Description
"Effective Debt Collection Strategies" is a comprehensive course designed to equip debt collectors, credit managers, and financial professionals with the skills and knowledge needed to recover debts efficiently and professionally. This course covers the latest industry best practices, laws, and regulations governing debt collection, including communication strategies, negotiation techniques, and risk management.
CHAPTER I TERMINOLOGY USED IN DEBT COLLECTION
CHAPITER II DEBT COLLECTOR ACT
II.1 THE AIMS OF THE ACT
II.2 DEFINITION OF DEBT COLLECTOR
II.3. PERSONS PROHIBITED FROM PERFORMING CERTAINS ACTS
II.4 IMPROPER CONDUCT
II.5 RECOVERY MONEY
II.6 WHERE DOES MONEY GO TO
FORMATIVE ACTIVITY: DEBT COLLECTORS ACT
CHAPTER III. NATIONAL CREDIT ACT
III.1. DEFINITION
III.2. OVERVIEW OF THE ACT
III.3. IMPORTANT NOTE
III.4. THE PURPOSE OF THE NCA
III.5. WHICH UNDESIRABLE PRACTICE DOES THE NCA WANT TO ELIMINATE?
III.6 THE NCA CREATED THE FOLLOWING BODIES TO ASSIST TO REGULATE THE CREDIT MARKET
III.7 OF THE CONSUMER AS PER NCA
III.8. RIGHTS OF CREDITS PROVIDERS
III.9. DEBT COLLECTION
III.10 RECKLESS CREDIT
FORMATIVE ACTIVITY: NATIONAL CREDIT ACT
CHAPTER IV PRESCRIPTION ACT
IV.1 DEFINITION
IV.2. CATEGORIES OF PRESCRIPTION
IV.3. PRESCRIPTION BEGINS TO RUN
IV.4. DELAYED ON PRESCRIPTION
IV.5. PRESCRIPTION INTERRUPTED
IV.6. FORMS OF INTERRUPTION
CHAPTER V LSDA (LIQUIDATION, SEQUESTRATION, DEBT REVIEW & ADMINISTRATION)
V.1. LSDA STATUS
V.2. DISPUTE AND DISPUTE HANDLING
· ACCOUNT SETTLED
· BALANCE ENQUIRY
· NEVER OPENED AN ACCOUNT
V.3. NEGOTIATION
V.4. PAYMENT OPTION
V.5. PAYMENT METHODS
5.6. HANDLING THE PTP REMINDER OR CHANGE OF PTP
V.7. EDUCATING DEBTOR
V.8. UPDATING THE DETAILS
V.9. PROFESSIONALISM
V.10. ENDING OF THE CALL
CHAPTER VI DEBIT ORDER AND DEBT ORDER CALL SCRIPT
VI.1. INTRODUCTION
VI.2. DEBIT ORDER IN DETAILS
VI.3. COMMON SALARY DATES
VI.4. HOW AND WHEN SHOULD WE CLOSE A DEBIT ORDER?
VI.5. BENEFITS OF SELLING DEBIT ORDER
VI.7. DEBIT ORDER SCRIPT
CHAPTER VII COST GENERATION & RECOVERY
VII.1. DEFINITION (COST)
VII.2. WHAT DOES THE LAW SAY?
VII.3. WHAT DOES THE COUNCIL SAY
VII.4. EXPENSE AND FEES
VII.5. ALL ABOUT COST
VII.6. DEBTOR OWN PHONE NUMBER – WHEN?
VII.7. NOT TO DEBTOR OWN PHONE NUMBERS – WHEN?
VII.8. NECESSARY CONSTRUCTION
a. ACKNOWLEDGEMENT OF DEBT
b. CLEARANCE LETTER
c. STATEMENTS
VII.7. COST AS MOTIVATION
VII.8. COST MEASUREMENT
CHAPTER VIII NEGOTIATIONS
VIII.1. WHAT IS NEGOTIATION
VIII.2. PREPARING FOR A SUCCESSFUL NEGOTIATION
VIII.3. STEPS IN THE NEGOTIATION PATHWAY
VIII.4. STYLE IS CRITICAL
VIII.5. NEGOTIATION SUCCESSFULLY
CHAPTER IX. SOFT SKILLS
IX.1. INTRODUCTION
IX.2. WHAT ARE CORPORATE SOFT SKILLS?
IX.3. WHAT AND WHERE TO START
a. WHAT TO DO, WHERE TO START
b. SOFT SKILLS IN THE CONTACT CENTRE
IX.4. POSTURE
CHAPTER X EFFECTIVE COMMUNICATION
X.1. INTRODUCTION
X.2. COMMUNICATION IN THE WORK PLACE
X.2.1. INTERACTION (WHAT DOES THIS CONSIST OF?
X.2.2. THE CORPORATE GREETING
X.2.3. OUTBOUND CALL
a. INTRODUCTION
b. WHAT IS THE SECURITY CHECK?
c. THINGS TO CHECK ON THE SECURITY CHECK
d. HANDLING OF THE CALL
e. BODY
f. SOLUTION TO THE PROBLEM
g. SUMMARIZE YOUR CALL
h. END THE CALL
i. HANDLING OBJECTIONS OFF RAMPS
CHAPTER XI DAYBOOK MANAGEMENT
XI.1. OUTCOMES
XI.2. COLLECTION TECHNIQUES
XI.3. MAXIMIZING PROCESS
a. PROMISE TO PAY (PTP)
b. ALLOCATION
c. INSTALMENT
d. REPAYMENT PLAN
e. WHEN WORKING WITH FAILS
· NON PAYMENT
· DID NOT HONOR INSTAMENT
· IF THE PAYMENT WAS LATE
f. CLOSE PARTY CONTACT
g. WRONG PARTY CONTACT
XI.4. LET US DIVIDE MANAGING WORK LOAD INTO FIVE FUNCTION
XI.5. ALLOCATION AND COST
XI.6. PROBLEM SOLVING
XI.7. OUTGOING & INCOMING CALLS
XI.8. LISTEN
a. LISTENING – WHEN YOU ARE NOT LISTENING TO ME ?
b. WHEN YOU ARE LISTING TO ME
c. LISTENING HAS TO DO WITH ATTITUDE
d. THINGS TO DO WHEN CALLING
XI.9. USING THE HOLD FUNCTION
XI.10. CONFIRM UNDERSTANDING
XI.11. BUILD YOUR PERSONALITY
a. BE COMPETITIVE
b. HOW TO BEGIN
XI.12. RIGHT PARTY CONTACT
a. DELAY AND DISPUTE: WHAT TO DO
b. DIVIDING MY DIARY
c. SELLING IT
d. HANDLING DIFFICULT CALLS
CHAPTER XII. QA SCORE CARD
CHAPTER XIII. DEBT COLLECTION CALL GUIDE
XIII.1. CALL STRUCTURE
XIII.2. NEGOTIATION MATRIX – FOLLOW IN ORDER OF BEST OUTCOME
a. NEGOTIATION 1
b. NEGOTIATION 2
c. NEGOTIATION 3
d. NEGOTIATION 4
e. NEGOTIATION 5
f. NEGOTIATION 6
g. NEGOTIATION 7
XIII.3. CONFIRMATION OF ARRANGEMENT
XIII.4. UPDATING & CLOSING
CHAPTER XIV. INTRODUCTION TO A CALL
XIV.1. REASON FOR CALL
XIV.2. NO TO PAYMENT ARRANGEMENT
XIV.3. OBJECTIONS TO PAY DUE TO:
a. UNEMPLOYED
b. UNDER DEBT REVIEW
c. SEQUESTRATION AND ADMINISTRATION
d. DISPUTE ACCOUNT
CHAPTER XV COMPUTER SKILLS
XV. INTRODUCTION TO COMPUTER SKILLS
XV.2. KNOW YOUR KEYBOARD
XV.3. MICROSOFT WORD RE-FRESHER
XV.4. THE MICROSOFT OFFICE BUTTON
XV.5. THE USE OF YOUR MOUSE
CHAPITER XVI. HANDS IN PRACTICE (LAB)
a. CV & INTERVIEW
b. CALL MODEL :
- RPC (WORKING/NOT WORKING)
- RPC (WORKING BUT UNDER DEBT REVIEW, PRESCRIPTION, SEQUESTRATION OR ADMINISTRATION) OR RAISED QUERIES
- CPC
- WPC