Credit control & Debt Management Level 3

Credit Control & Debt Management Level 3 Award – QLS

£349.00

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    Description

    Credit Control Online course. Credit control, also known as credit management, refers to the strategies and practices a company uses to manage its credit policy. This includes determining who receives credit, setting credit terms, and ensuring timely payments. Effective credit control helps businesses minimise bad debts and maintain healthy cash flow.

    Effective credit control is essential for the financial health of a business as it impacts liquidity, profitability, and overall operational efficiency. When customers don’t pay you, it affects your ability to pay your own bills.

    The Credit Control & Debt Management course details what’s required to implements the legal recovery processes through the courts and other means of getting the money in. Insolvency and Bankruptcy are explained, and the means of ensuring you are able to follow the legal process. In order to get the highest dividend from administrators and receivers in the unfortunate event, one of your customers falls into this area.

    There is practical advice on using factoring services or invoice discounting, engaging bailiffs and private debt collection companies, and how to communicate with customers who claim to have payment difficulties.

    In short, this online course gives you a solid grounding in effective credit control and debt management. Which will help you understand what processes and tools are available to proactively avoid financial problems.

    Qualification: Credit Control & Debt Management Level 3 Award – QLS
    Support: 1-year course access and support included 
    Start Date: Anytime – We enrol 365 days a year 
    Endorsed Specification: Certificate of Achievement

    We also offer a full range of short business courses that may be of interest?

    Course Syllabus

    Learners will complete 3 units of study in total as listed below.

    3 tutor-marked assignments to complete

    Unit 1 – Credit Control

    Credit
    Cutting down on credit
    Bad debts
    Sales discounts
    Is my customer credit worthy?
    Credit application form
    Trade references
    Bankers references
    Credit checks
    Credit insurance
    Credit control routines
    Terms and conditions of sale
    Interest
    Invoices
    Aged debt analysis and debt turn
    Debt recovery through the courts
    The Courts and their powers of collection
    3 track system – Full description in unit 2
    Statutory demands, Insolvency and Bankruptcy
    Statutory demands
    Insolvency
    Winding up petitions
    Voluntary arrangements
    Administration orders
    VAT and Tax relief for Bad debts
    What VAT relief is available?
    How to claim relief
    Tax relief

    Unit 2 – Debt Management Agencies

    Credit checking agencies
    An explanation of what credit checking agencies do
    The information they hold
    How to use their services.
    Factoring companies
    A history of factoring
    An explanation of how their products work
    The services they can offer.
    Specialist Legal Services
    What services are on offer
    How to use their services effectively
    The Courts
    How and when it is appropriate to use the courts
    Advice on applying for legal resolution
    The 3 track system
    Small Claims Track
    Fast Track
    Multi track
    Costs verses Settlement – Is it worth it?
    Debt Collection Agents
    Bailiffs
    What are they?
    What are the costs involved?
    What are their collection powers?
    Sheriffs
    What are they?
    What are the costs involved?
    What are their collection powers?
    Private Debt Collections agents
    What are they?
    What are the costs involved?
    What are their collection powers?

    Unit 3 – Communication

    Telephone Communication
    Telephone skills
    Handling problems and objections
    Dealing with difficult customers and controlling anger
    How to gain commitment to pay
    Written Communication
    When to choice written forms of communication
    Email verses letters – When is each format appropriate?
    Sample letters
    Request for payment
    Demand for payment
    Legal demand for payment
    How to deal with customer responses
    Common responses and excuses
    How to reply to customer responses
    How to gain commitment

    Entry Requirements

    There are no previous qualifications required. However, students looking to enrol onto this course should meet the following criteria:

    Be aged 16 Years or above
    Possess a solid knowledge of the English language
    Have access to a PC and the internet for the duration of the whole course
    Basic computer skills: e.g. Word processing, emailing, uploading documents etc
    Have a genuine desire to succeed

    Course Duration

    This course comes with 12 months of support included:

    Guided Learning Hours (GLH) – 100 Hours
    Total Qualification Time (TQT) – 120 Hours

    On average, learners will complete this course within 7 months.

    Course Outcome

    ABC Quality License Scheme – Certificate of Achievement

    At the end of this course, successful learners will receive a Certificate of Achievement from ABC Awards and Certa Awards and a Learner Unit Summary (which lists the details all of the units you have completed as part of your course).

    The course has been endorsed under the ABC Awards’ Quality Licence Scheme & is offered in partnership with Kendal Publishing. This means that Kendal Publishing has undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria.  The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future.

    The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector.  To this end the learning outcomes of the course have been benchmarked at Level 3 against level descriptors published by OFQUAL, to indicate the depth of study and level of difficulty involved in successful completion by the learner.

    The course itself has been designed by Kendal Publishing to meet specific learners’ and /or employers requirements which cannot be satisfied through current regulated qualifications. Abc Awards & Cert Awards endorsement involves robust and rigorous quality audits by external auditors to ensure quality is continually met. A review of courses is carried out as part of the endorsement process.

    ABC Awards & Certs Awards have long-established reputations for providing high-quality vocational qualifications across a wide range of industries. ABC Awards & Certa Awards combine over 180 years of experience combined with a responsive, flexible and innovative approach to the needs of our customers.

    Renowned for excellent customer service, and quality standards, ABC Awards & Certs Awards also offer regulated qualifications for all ages and abilities post-14: all are developed with the support of the relevant stakeholders to ensure that they meet the needs and standards of employers across the UK.

    Regulated qualifications refer to those qualifications that are regulated by Ofqual/CCEA/Qualification Wales

    Tutors & Support

    All learners have access to a qualified tutor via email for the stated support period. In addition to this, you are able to speak to our support team via telephone with any query you may have relating your course.

    Our tutors and support team have years of experience in delivering online and distance learning courses. If you require help, then we are only a phone call away.

    Assessment

    Learners will be required to complete a series of tutor-marked assignments ( normally 1 after each unit) as they progress through this course. Each assignment will contain a variety of tasks/questions. These assignments are assessed by your tutor to monitor progress. You will be provided with constructive feedback to help you in completing each unit to the required standard.

    There is no examination to complete as the course is completed using a continual assessment.

    Why UK Open College?

    ✅ Enrol online today – No set term times
    ✅ Accredited College – We are fully approved
    ✅ Spread the cost – interest-free finance (Guaranteed acceptance*)
    ✅ NUS/Totum Student Card Approved*
    ✅ Trading since 2006 – We will not let you down
    ✅ Flexible learning – Study at a time that suits you
    ✅ Qualified Tutors – Fast assignment turnaround

    *NUS/TOTUM Student cards are only available to students who are studying a fully recognised RQF/QCF course of 120 study hours or more. £12 fee per year applies.

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    14 Day Money Back Guarantee

    Once course access has been provided you have 14 days to ensure this course meets your needs and requirements. If you are not happy for any reason at all, simply email our accounts department with your request to cancel on [email protected]. We will offer a full refund. No questions asked !

    Please note: Any request to cancel outside the 14 days cancellation period will be declined. We will not refund you under any circumstances outside of the legal 14 day cooling off period. If you have opted to finance your course with Paypal or Clearpay finance you are legally obliged to pay the balance of your fees once the 14 day period expires.

    Our full T’s & C’s can be viewed here.

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