Rationale
This is a structured 3 day short course aimed at practitioners wishing to gain practical grounding on the process of debt collection. A sizable share of a company's working capital is tied up in Accounts Receivable which poses a high liquidity risk. Credit departments need to be familiar with the debt recovery process to ensure that the organisation remains solvent. The debt recovery process often involves legal proceedings, which requires that the parties follow the legal framework for debt collection. The inability to effectively use the legal framework has made collecting money more difficult for companies.
Debt collection has many potential pitfalls, therefore knowledge of debt collection is essential for legal practitioners, debt collectors, credit controllers or collection agents, banks, credit/finance houses and all persons responsible for recovering bad debts or late payments. Effective debt collection requires knowledge of key legal aspects of debt colleting from sound credit application and security, to preparing for debt enforcement and litigation. This course offers a framework for understanding of debt recovery and the legal process to give a practical, up-to-date understanding of the law.
Purpose
This course offers a framework for understanding of debt recovery and the legal process to give a practical, up-to-date understanding of the law. It allows participants to familiarise themselves all aspects of the debtor/creditor relationship and will provide an understanding critical concepts such as how debt is created, secured and eventually relieved.
Learning Outcomes
After successfully completing this programme, you will be able to:
- Summarize how debt can be created both voluntarily and involuntarily.
- Describe how security interests in both real property and personal property are created and how they are perfected.
- Able to make informed decisions pertaining to the available options for companies in financial distress
- clearly understand debt collection, recovery, negotiation and credit control management
Target Population
Debt collection has many potential pitfalls, therefore knowledge of debt collection is essential for legal practitioners, debt collectors, credit controllers or collection agents, banks, credit/finance houses and all persons responsible for recovering bad debts or late payments.
Delivery Modes
- Instructor-led theoretical concepts and demonstrations
Assessment
- Class exercises
Recognition of Prior Learning
- There are no requirements of prior learning.
Certification
- Attend 80% of the course to qualify for certificate
- Participate in class work and complete all practical exercises given