Effective Credit Control & Speedy Debt Recovery

1. Effective Credit Assessment & Risk Evaluation

• Assessing credit worthiness of individuals
• Evaluating corporate risks - sole proprietorship/partnership, private limited companies, groups of companies
• Credit information and investigation techniques

2. Practical Aspects of Financial Analysis in Credit Evaluation

• Types of financial statements and their limitations
• Financial analysis techniques - qualitative and quantitative
• Practical aspects - credit decisions, symptoms of problematic debts

3. Understanding the Factors Influencing a Credit Decision and the Pitfalls Involved

4. Developing Effective Collection System and Procedures

• Priorities in collection
• Collection routine
• Collection letters - types, reminders, effectiveness
• Collection calls - telephone, personal visit
• Use of collection agency
• Practical pointers for effective collection

5. The Art of Collecting Debts Through the Phone

• Planning strategy to get results
• When to show debtors you mean business
• Using the language of the trade
• Practical session

6. Collection Tools and Techniques - Review of DOs and DON'Ts

• Sending of reminders
• Collection letter - timing, wording
• Telex/fax
• Telephone collection
• Personal visits
• Use of collection agencies

7. Laying the Groundwork to Make Collection Efforts Produce Results

• Sourcing vital information - debtors' assets, market news and developments
• Financial condition
• Personality assessment - type of character, strengths and weaknesses, developing the profile
• Documents review

8. How to Deal with Delaying Tactics & Reduce Credit Exposure of Difficult Customers

• Types of delaying tactics often employed
• Handling special situations such as force threat, abusiveness, intentional delays, excuses
• Collecting the payment: precautions to be taken - post dated cheques, endorsements, returned cheques
• 3rd party intervention

9. Collecting from Financially Distressed Debtors

• Identifying potential delinquent accounts
• Sizing the problem
• Reaching for a compromise
• Practical issues

10. What Went Wrong? Useful Lessons for Staff Involved in Collection

11. Highlights of the Legal Perspective in Debt Collection

• Legal rights of priority creditors, secured creditors, general creditors
• Execution against good
• Garnishee order
• Attachment
• Writ of summon and sale
• Time bar for legal proceedings

12. Negotiating for A Settlement

• Before commencement of legal action
• After commencement of legal action
• After court judgement

13. Reporting and Convicting a Debtor of a Criminal Offence

• Cheating
• Breach of contract
• Misappropriation
• Dishonesty - in receiving stolen goods
• Conviction and disposal enquiries

This seminar will be of tremendous benefit to employees who carry out the following responsibilities:

• Debt collection
• Sales/order administration
• Sales & marketing
• Credit control
• Finance & administration

George Goh

Mr George Goh has more than 20 years of practical experience in the areas of credit management, debt collection and credit insurance. He has worked with various organizations including Concorde Hotel (Formerly known as Le Meridien Hotel) , Transnational Group of Companies, Vikay Industrial and Dun & Bradstreet, to name but a few.

His previous career also includes employment with Credit Information and Debt Collection Agencies who provide credit reports, debt collection services like legal pursuits to recover debts all over the world.

His professional experience in credit management expands even into the area of credit insurance coverage for companies to insure their most valuable current assets – trade receivables.

George has served for 15 years on the Board of Management of the Singapore Association of Credit Management (MSACM). Formerly the Association’s Hon. Secretary and Hon. Treasurer, he is now the Association’s Membership Chairman and an active member of the Council.

A very hands-on, practical trainer, George has conducted numerous credit and collection seminars in the South-east Asian region and has won tremendous respect from past seminar participants for his knowledge and experience on the subject.

"The speaker is good and very experienced. The seminar offers good exposure to real-life cases that the speaker handled before. It provides good, practical training on credit control and debt recovery."

Yeo Ee Hoon
Accountant, Avery Dennison Singapore (Pte) Ltd

"The seminar is beneficial to people involved in credit control. It provides in-depth knowledge on the subject."

Eric Pang
Business Administrative Manager, Galmon (S) Pte Ltd

"The course is quite comprehensive. The speaker is well experienced. Overall, the seminar is good."

Albert Foo
Asst. Sales Manager, JPN Equipment Pte Ltd

"The seminar is informative. The speaker is very experienced. The seminar offered a good networking opportunity whereby participants were able to interact, exchange and share information with each other. Overall, the seminar was well organised."

Tina Wang
Finance Manager, Fagerdala Singapore Pte Ltd

"The seminar has given me a better understanding on how to evaluate & manage credit using the different tools & techniques available. The section on collecting debts through the phone & legal avenues were of particular interest to me. It also helps me to have a better appreciation of the work & effort put in by my staff in the debt recovery process. George Goh was clear & effective in putting through his points & his years of experience in the field of credit control & debt recovery was evident throughout the seminar."

Hah Hen Khean
General Manager, ICE Far East Pte Ltd