Would you like to be able to take control of what is owed to your business? This course provides you with the knowledge and tools to do so – we are in a time of recovery but when clients don’t pay it can have serious negative implications for cash flow and the health of the business.

On this Credit Control and Debt Management course, you will:

Learn 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
Have a thorough understanding of principles and practice of controlling credit

Gain an understanding of principles and practice of controlling credit and managing debt in commercial organisations.

Study with winners

We’re an award-winning learning provider and have been recognised for our cutting-edge learning techniques.
At your own pace

Study this course as quickly or slowly as you wish; we’ll work at a speed that suits you.
Unlimited Tutor Support

Get as much help and support as you want from your personal course tutor via email and phone.

Awarding body: ABC Awards

ABC Awards is a leading national Awarding Organisation, regulated by OFQUAL, and the Welsh Government for their qualifications on the national framework. ABC Awards combines 180 years of examination and assessment expertise but also implements a responsive, flexible and innovative approach to the needs of our students. ABC Awards is a brand of the Skills and Education Group Awards, also known as SEG Awards, which is found on the OFQUAL register.

Study Hours

Up to 90 hours which is around 30 minutes per day for 6 months.

Study Method

The course is specially designed for study by distance learning. Throughout the course there will be self-assessment questions, and tutor marked assignments (TMAs), to enable you to monitor your progress.

Course Duration

You have up to a year to complete this course and we have included a suggested number of study hours. This is usually ample time for learners, even with full-time jobs and other commitments. Don’t worry if you go over the year though, we can organise an extension to your course for an additional fee, which also extends your tutor support.

Assessment

Throughout this course, you may be expected to complete assignments, essays, research projects, posters, leaflets, presentations, video/audio recordings, work-based and practical learning sessions to meet the requirements of your course. This information will be included in your study pack detailing exactly what you need to do to accomplish your goals as a student.

Course Outcomes

At the end of this course, successful learners will receive a Certificate of Achievement by ABC Awards and a Learner Unit Summary (which lists the details all of the units you have completed as part of your course). You can read more about ABC here. Tens of thousands of people each year further their education with an ABC award.

Additional Information

Difficulty - Level 3

Entry requirements - There are no formal entry requirements for this course, however, it is recommended that you have an intermediate ability to read and write English.

Course Content

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

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.

Legal Services

What services are on offer
How to use their services effectively

The Courts

How and when it is appropriate to use the courts
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 / Sheriffs / Private Debt Collections agents

What are they?
What are the costs involved?
What are their collection powers?

3: Communication

Telephone Communication

Telephone skills
Handling problems and objections
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

Frequently Asked Questions

We have some answers to common student questions, but if you can't find the answer you're looking for then please contact us and we will do everything we can to answer your questions.

You will have access to your personal tutor, via email and telephone, who will mark your assignments and guide you through the course. In addition, you will be supplied with a comprehensive Study Guide which will help you through the study and assessment process. Your personal tutor will be highly experienced in their subject area and qualified to teach.

You don’t need any prior skills in the subject area to start. However, as with all of our courses, we recommend a reasonable level of English reading and writing ability.

We provide all the specially written learning materials you require to study this course at home. The course fee also includes tutor support for the specified duration of your course.

You will receive everything you need to complete this course within the study pack we send to you.

No, this course is assessed by coursework alone.

No, all of the study materials are supplied within your learning pack.

Most students finish comfortably within the course duration period given. However, if you do need more time, your personal tutor support can be extended for an additional fee.

That’s fine, this course can be studied anywhere and is completed by submitting Tutor marked assignments (TMAs).

Please check our FAQs section or Contact Us, we are happy to answer any questions you have.

Credit Control and Debt Management Level 3