2 days Workshop
INTRODUCTION
People always say legal action is the last resort! Yes, this course will explore all non-legal avenues to recover debt failing which, legal action will be considered. You will understand why when you sue but lost the case and why when you sue but win. Many case references will be explored in this legal debt seminar. To succeed, managing staff expectation is crucial
Course Objectives
By the end of this course you will be able to:
Understanding Negotiation Techniques
Profiling Your Customers
Use Practical Debt Recovery Approaches
Understand Legal Debt Recovery Strategies
Know When To Initiate Legal Actions
Know How To Avoid Futile Effort In Recovery
Review Legal Case Studies
Apply Collection Performance Leadership Assessment
Apply Strategies for Managing Organization Change & Stress for Collection Retail division
Understand the Linking Collection KPI To Performance Management
METHODOLOGY
Case Study & Group Discussion. Real-current problematic legal debt cases will be analyzed and scenario solutions will be discussed within the workshop.
WHO SHOULD ATTEND
Entrepreneurs, Bankers, Accountants, Business Managers, Marketing Managers, legal 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: Customer Risk Profile
Assessing Your Risk Factors
What Are The Strategies To Negotiate Debt?
Why Borrowers Are Not Paying You?
Burning Issues In Debt Recovery
Customer change ownership
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
Untraceable unit
Low resale value for repossessed vehicle resulted in higher shortfall
Module 2: Tracking Your Customers (Case Study)
Effective Ways Of Evaluation
Monitor The Potential/Existing Customers
Module 3: Proceed Legal Action
Why You Should Take Legal Action?
Why You Should Not Take Legal Action?
Understand Legal Debt Recovery Strategies
What To Do Before Litigation
Contents Of Letter Of Demand
Factors To Consider Before Suing
Preparation For Suing
Preparation For Trial
Enforcement Of Judgments
Review Legal Case Studies
Why You Sue But Lost The Case?
Why You Sue And Win The Case?
Breach Of Contract
Why Government Sue And Win The Case
Module 4: Collection Performance Leadership Assessment (Case Study)
Business Planning
People Engagement
Organization and Relationships
People Support and Development
Measurement, Review and Learning
Day 2:
Module 5: Strategies for Managing Organization Change & Stress for Collection Retail division
Change agent
Conditions for successful change
Useful Change Strategies
Potential Sources of Stress
Managing Stress
Module 6: Linking Collection KPI To Performance Management
Design Scoring Mechanism
Design Weighting & Measures
Tracking KPI Using Excel
Module 7: Debt Recovery Case Studies
Case Study 1 (Negotiation Skill)
Case Study 2 (Handling Difficulty Debtor)
Case Study 3: Head of Credit Controller Task
Case Study 4 (Dealing with NPL borrowers)
Case Study 5 (Detecting early warning sign)
Module 8: Q&A