This program is designed to make participants understand and apply the skills of collecting and negotiating the terms of payment with delinquent clients.
Participants will learn the sources of delinquency, the degrees of delinquency and different techniques of collection to apply to each.
The second part deals with negotiating as it applies in collections. This section starts with an explanation of how and why preparation is the key to real power in any negotiation. The steps in negotiating include how to open the discussion, how to probe and make a proposal for settlement, responding to excuses and/or settlement proposals, and making counter proposals in an assertive manner. Powerful negotiating gambits to ensure that the client adheres to the commitments he made will also be covered.
By the end of the two-day workshop the participants will improve their understanding and application of the skills of collection and negotiating terms of payments with delinquent clients.
Method: Lectures, role-plays and experiential exercises, critique and processing of exercises
Duration: Four (4) three-hour sessions
Intended Audience: Officers and staff involved in Collections.
I. The Vital Role of Collections
II. Collection & Negotiating Skills
III. Structure of a Negotiated Collections
IV. Stages of Collection
V. Suggesting Plan of Action
VI. Ending the Call & Obtaining Promise to Pay