Credit Control Training Course
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This Credit Control training course teaches effective chase techniques, how to tackle common excuses for non-payment, and how third parties and the court can help you reclaim debts. It also explains your legal rights regarding charging interest on overdue accounts and what type of relief you can claim if you’re left with bad debts. With this knowledge, you’ll be able to offer credit to customers with as low a risk as possible and chase overdue payments effectively.
If your business offers credit to customers, it needs to have an effective credit control process in place. Credit control helps you reclaim debts from customers and avoid offering credit to untrustworthy ones in the first place. This is crucial if your business wants to gain the benefits of offering credit while avoiding the associated risks, particularly poor cash flow.
- Developed by business professionals
- Accredited by CPD
- Fully online course and assessment with no time limits
- Full audio voiceover
- Approximate duration: 2-3 hours
- On completion, certificate is posted the next working day
Who Should Take This Course?
Anyone who handles a business’s finances and manages customer accounts should learn how to effectively control credit. If you’re planning to become a dedicated credit controller who chases payments, this course will be especially beneficial. No previous knowledge is required so anyone at any level of a business can take the course.
All of our courses are accredited by the CPD Certification Service as conforming to universally accepted Continuing Professional Development (CPD) guidelines.
On successful completion of the course you will be sent a quality assured certificate through the post the next working day. This can be used to provide evidence for compliance and audit.
Screenshots (click to view)
If you wish to try this course then register for a demo by clicking the 'interactive demo' button. You will be given the option to purchase and continue with your course at the end of your demo!
|1||Introduction to Credit Control|| |
What is credit control, why is credit control important, the abilities of a good credit controller, and the responsibilities of a credit controller.
|2||Creating Contracts and Credit Checking|| |
New customers, credit checking, credit insurance, contracts and invoices, and late payment legislation.
|3||Collection Procedures|| |
Communication methods, the chase cycle, chasing payment: the first call, common excuses for non-payment, chasing payment: the second call, chasing payment: the third call, chase letters, example letters, and next steps.
|4||Third Party Collectors and Legal Action|| |
Debt collection agencies and solicitors, legal action, letter before action, submitting claims to court, preparing for a court hearing, and further court action.
|5||Statutory Demands and Other Actions|| |
Statutory demands, bankruptcy and winding up, voluntary arrangements, administration orders, VAT and tax relief, and default accounts.
Download Course Overview (PDF)
Aims of the Course
By the end of this course learners will:
- Understand why controlling credit is important and what skills they need to be a good credit controller.
- Know how to offer credit to customers in a low risk way, i.e. by using credit application forms and carrying out credit checks.
- Recognise their right to charge interest and other costs under the Late Payment of Commercial Debts (Interest) Act.
- Learn techniques that enable them to effectively chase payment via phone calls and letters.
- Know how to address common excuses for non-payment.
- Understand how third parties (including debt collection agencies and solicitors) and the court can help chase payment.
- Recognise what further steps they can take if the debtor will still not pay, including sending statutory demands.
- Know what type of relief they can claim back if they are left with bad debts.
The online assessment is taken on completion of the training material. You will be asked 15 multiple choice questions with a pass mark of 80%. The answers are marked automatically so you will instantly know whether you have passed. If you don't pass don't worry! You can take the test as many times as you need with no extra charge.