2 days workshop
INTRODUCTION
In order to Reduce Non-Performance loan (NPL) or Debts, you need to have the heart of an entrepreneur. Bankruptcy (Amendment) Bill 2016 was passed by Parliament on 29th Marc 2017. This course will help to provide you with an environment that stimulates proactive behavior in order to achieve greater goals for yourselves and your organization. By creating value for your organization, you will be amazed at the speed of career advancement. Real-current problematic debt cases will be analyzed and scenario solutions will be provided under the guidance of Dr. Steven Liew.
COURSE OBJECTIVES
By the end of this course you will be able to:
Understanding Bankruptcy (Amendment) Bill 2016
Understanding Negotiation Techniques
Profiling Your Customers
Use Practical Debt Recovery Approaches
Understand Legal Debt Recovery Strategies
Know When to Initiate Legal Actions
Importance of Putting Your House in Order
Understand Collection Case Studies
METHODOLOGY
Case Study & Group Discussion. Real-current problematic debt cases will be analyzed and scenario solutions will be discussed within the workshop.
WHO SHOULD ATTEND
Bankers, Accountants, Business Managers, Marketing Managers, Collection Executives, Sales Executives, Finance Executives, Supervisors, Managers, Credit Analysts, Credit Controller & Recovery Officers.
Special Feature: NOTE: Please bring laptop along
PROGRAMME OUTLINE
Day 1
Module 1: Bankruptcy (Amendment) Bill 2016
Voluntary Arrangement introduced as a new rescue mechanism
Stringent requirements for service of bankruptcy notice and creditor’s petition
Single order of bankruptcy introduced
Minimum debt threshold has been increased
Stronger protection for social guarantors
Leave of court required to commence bankruptcy proceedings against other guarantors
New list of bankrupts to be allowed discharge
Automatic discharge introduced
Establishment of the Insolvency Assistance Fund
Module 2: Burning Issues in Debt Recovery
Uncontactable/Missing customers
Contactable-but can’t afford to pay
Avoid payment with thousand reasons
Interference from top management on collection section
Customer delay payment purposely
Incomplete document
Financial /Cash flow problem
Module 3: Minimise Provision for Bad debt provision
Asset based
Cash balance approach
Trade Credit Insurance
Module 4: Know Your Customers
Customer Risk Profile
Assessing Your Risk Factors
Why Customers Are Not Paying You?
Plan your site visit
Focus on collectable & big customers
Module 5: Be Flexible, Creative & Think Out of The Box Approach
Outsourcing (collection agency)
Insourcing (staff incentive)
Asset conversion
Business Take over
Revaluation of assets
Day 2
Module 6: Collection Negotiation Tactics
The building block technique
Silence
Repeat, repeat…
Recess
Divide & rule
Empathy
Re-escalation of demand
“One more thing”
Deadlines
Slicing
Module 7: Put Your House in Order
Credit evaluation & Monitoring ,7cs
Management support & involvement
Clear SOP
Strong credit manpower team
Qualities of an effective collectors
Module 8: Collection Case Studies (Part 1)
Case Study 1 (Negotiation Skill)
Case Study 2 (Credit Evaluation)
Case Study 3 (Handling Difficulty Debtor)
Case Study 4 (Bank Branch Manager Task)
Case Study 5 (Head of Credit Controller Task)
Case Study 6 (Dealing with NPL borrowers)
Case Study 7 (Detecting early warning sign)
Case Study 8 (Government Accounts)
Module 9: Legal Procedure
What to Do Before Litigation
Contents of Letter of Demand
Factors to Consider Before Suing
Preparation for Suing
Preparation for Trial
Enforcement of Judgments