Course description
Collection specialist oversee the financial collection department of a company and are responsible for the correct invoicing of clients and the timely receiving of payment. They also observe and review the interactions of staff members with clients to ensure that collections are done according to company policies and regulations.
Collections specialists are responsible for resolving overdue bills and collecting payments from the individuals or businesses responsible for the debt. They must locate those responsible for unpaid bills and set up acceptable terms of repayment to protect the financial assets of their employer. Common responsibilities for a collections specialist include:
Professional collection specialist course will help you do just that identifying accounts with overdue payments and keeping records of the amount owed and the length of the delinquency, locating debtors and contacting them via phone or mail to address their overdue payments and determine the reason for the outstanding debt and lastly will teach you how to communicate with the sales department to maintain accurate and updated information on client accounts and payments
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
The course on professional collection specialist designation (PCS) is implied for:
- Collectors
- Anyone with consumer interactions
- Anyone new to the collection industry
Outcome / Qualification etc.
After successful completion of this course you would be able to :
- Practical exam training
- Explanation through case studies
- Solving previous years exam questions
- Interact with fellow students and the instructor, who is on hand to give advice and promptly respond to questions in the discussion forums.
- Outstanding leadership and managerial skills.
- Strong time and people management skills.
- Ability to work to strict deadlines.
Training Course Content
Day 1
FDCPA Essentials for the ARM Industry
- FDCPA Essentials
- Understanding the consumer’s rights
- Responsibilities under the FDCPA as a professional debt collector
Day 2
FDCPA Essentials for the ARM Industry-2
- The Fair Debt Collection Practices Act
- Identify restrictions on the method and timing of collection communications.
- Explain the purpose of the FDCPA and its implementing Regulation F.
- Identify the conditions and restrictions on the timing and method of collection communications with consumers.
Day 3
Right Party Contact (“RPC”)
- Determine a Right Party Contact (“RPC”) with whom you may discuss the debt
- Limited Content Message (“LCM”)
- Mini-Miranda Disclosure
- Recognize and respond to consumer communication preferences, disputes, and attorney involvement
- Name the two federal agencies that enforce the FDCPA and explain the consequences of violations
Day 4
Essential Collection Skills and Techniques
- Human Communication is our Business
- Build Rapport; Conquer Interference
- Ready, Set, Goal! Steps to Success
Day 5
Essential Collection Skills and Techniques-2
- Verify the Consumer
- Identify Yourself
- Request Payment in Full
- Pause
- Ask About and Listen for Challenges
- Negotiate Solutions
- Confirm Arrangements
- Close the Call
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London Premier Centre
London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...