I would highly recommend this debt collection training program to others, because of its comprehensiveness.  Debt collections methods, customer relations, and negotiation skills are key to this field.  The principles outlined by the instructor, were invaluable to my work environment and practical in any job setting.  I hope to further enhance my relationships with customers, and it will also help me to keep in mind that the success of the organization depends on everyone applying unified principles established by our organization.  Also, I was very surprised that this debt collection field is so encompassing, and my eyes are now wide open with the knowledge I gained.
The instructor’s communication was excellent, and effective examples were used to illustrate many of the ideas presented.  I liked that the training was interactive, and each participant was very engaged with the activities that we had to do.
Linder Raslin Griffith, Clerical Officer, Barbados Water Authority, Bridgetown, Barbados

 

This overall training program was excellent!  I learned some very effective ways to encourage debtors to make full payment on accounts, or to make arrangements for partial payment plans for clients.  This is a major part of my job, and I can use the methods taught in this training.  Also, the facilitator of the workshop offered some other sound, valuable and useful information that I plan to use on a daily basis.  By attending this program, it will help me to apply the concepts I learned, as well enable me to become the best debt collector in my department.
The facilitator’s teaching style was relaxed, yet effective, and very knowledgeable in the field of debt collections.
Deniece Drayton, Clerical Officer, National Insurance Department, Bridgetown, Barbados

 

Everything I learnt in this program was valuable!  The training was relevant, timely and measurable.  Already, I can see many aspects of this program being incorporated into my daily job responsibilities.  There are many other aspects that can, and will improve my effectiveness in my organization, for example, customer service, improving my letters to customers, and practicing and improving my listening skills. 
Rhonda Knight , Insurance Officer (Acting), National Insurance Department, Bridgetown, Barbados

 

This program will enhance my relationships with my customers and will be a reminder that the success of my organization depends on me and everyone applying themselves according to procedures.
Ingrid Taylor, Legal Assistant, National Insurance Department, Bridgetown, Barbados

The entire program was very comprehensive and of great value to me.  However, the parts about management, empowerment, staff motivation, effective use of debt collection software to capture and analyze critical data, were areas that were of most value to me.  I will be implementing some areas of the debt collections process in my work.   Many areas of the program are interrelated to our daily activities, and will assist us with improving and implementing strategies within the organization.
Name Withheld, Inspector, National Insurance Schemes, Barbados

This was an excellent course!  I can implement and use the proper negotiation skills that I learnt in the course.
Allison Harewood, Legal Assistant, National Insurance Schemes, Barbados

I would recommend this program to others who wish to increase their debt collections and customer service skills.
Meldene Sargeant, Legal Assistant (Acting), National Insurance Schemes, Barbados

This program would help me greatly if the hierarchy within the company is changed, and if there is a drive for the enforcement of penalties.
Name Withheld, Inspector, National Insurance Schemes, Barbados

Excellent course!  Instructor was great.
Name Withheld, Inspector, National Insurance Schemes, Barbados

I would recommend this course to improve the way business is done in our country.  The instructor’s knowledge and ability to transfer the knowledge to the participants was notable.
John Springer, Inspector, National Insurance Schemes, Barbados

Sections 26-37 were very informative, as it dealt in detail with the correct procedure to collect outstanding debts.  It points the deficiencies in the operations of our departmental procedures.
In general, this program will improve the performance of offers, provided the workers are given the authority to implement the recommendations provided in the program.  However, bureaucratic process still exists, and change will not be easily achieved.
The program was enlightening, and serves to improve the collections of outstanding debts.
Tunley Franklyn, Inspector, National Insurance Schemes, Barbados

I learnt several new techniques that I can try.  
Name Withheld, Compliance Officer, National Insurance Schemes, Barbados

The real-life examples used in the course were effective.  The course will enable me to be a better collector.
Name Withheld, Compliance Inspector, National Insurance Schemes, Barbados

After my attendance in this course, I now understand more about the debt collection process and its importance within our organization.  The program was not only informative, but relevant.  I will incorporate what was presented with how it’s done within my organization.
Name Withheld, Inspector, National Insurance Schemes, Barbados

Overall, the training was good in that it highlighted the areas we need to have updated and implemented in our department.  The course content was delivered in and easy-to-understand manner, and the real-life examples helped to reinforce the subject matter. I will use the steps in the debt collection process to plan my work more efficiently and effectively.
Name Withheld, Inspector (Acting), National Insurance Schemes, Barbados

The standard procedures of a debt collections department has shown me that our department has some work to do to get to the point of a fully functioning debt collection agency.  Most debt collectors or customer service agents could benefit greatly from this course and the psychology behind it.
The instructor’s teaching style was great; I prefer these types of interactive sessions.  The instructor was very knowledgeable and made the training sessions very comfortable.  Learning, therefore, was very easy.
Name Withheld, Inspector, National Insurance Schemes, Barbados

The training was very effective.  I would recommend this program to other revenue collectors because it will enhance his or her capabilities and capacities.
Name Withheld, Legal Officer, National Insurance Schemes, Barbados

I would recommend this debt collection program to other revenue collection agencies, as it would be invaluable to their getting the job done more effectively and efficiently.  The debt collection letters we were provided, will enable us to have less backlog in our system.
Name Withheld, Legal Officer, National Insurance Schemes, Barbados

The instructor was very knowledgeable and credible.  I have gained more knowledge and experience by attending this program.
Name Withheld, Legal Officer, National Insurance Schemes, Barbados

This debt collection training program was very thorough.  The training was very intense, the course material was adequate, and the instructor covered each topic thoroughly.  The instructor introduced many strategies to implement, that most organizations should be aware
I am always opened to new ways that I can be more effective in my job.  The challenges of the job excite me, and I want to play a bigger role within the organization.  All in all, I got value for my money! 
Name Withheld, Inspector, National Insurance Schemes, Barbados

The knowledge gained in customer service, and the benefits of risk management, were the topics that struck home for me.  The program also showed me the tools and techniques that are needed to fully function within a debt collection department.  The instructor’s teaching style and his ease in explaining information makes me want to attend future courses he teaches.
Adrian Gittens, Inspector, National Insurance Schemes, Barbados

The debt collection and business writing skills I learned about will assist me in being more effective and efficient in my job.
Name Withheld, Inspector, National Insurance Schemes, Barbados

This program was very informative, and I have learnt an extensive amount of information.  It provided me with skills to use in every aspect of my job. I wouldn’t change a thing about this program.
Julie Ann Slocombe, Inspector, National Insurance Schemes, Barbados


Debt Collection Strategies & Techniques
Report on Course: Debt Collection Strategies & Techniques
Course Facilitated by Cohen & Klein Consulting Inc.
Facilitator: Keith Nethersole, Senior Instructor
Course date: June 19th -22nd, 2018, Ft Lauderdale, Florida
Prepared by: Georgina Williams, Debt Collection Officer-Treasury Department
MODULES COVERED:
•       Duties and responsibilities of a Debt Collection Manager or Revenue Manager
•       Can collectors achieve the impossible?
•       Various job descriptions of Debt Collectors and Revenue Collectors
•       Summary of a Debt Collector’s duties
•       A practical and realistic approach to debt collection
•       Typical internal operation of a collection agency Department
•       Transparencies of debt collection figures
•       Managing the Most Valuable Asser-People, Staff, Labour
•       Broken promises procedures
•       Partial payment arrangements (PPA)
•       Debt collection management activities in relation to department layout structure
•       Debt collection strategies in relation to targets and goal settings
•       Features and functionalities of a debt collection or revenue management software system
•       Collection abbreviated codes and code analysis
•       Scheduling and allocation of collectors
•       Presentation and samples of debt collection letters- (Exhibits)
•       Relevance of miscellaneous  letters
•       Analysis of mailing results (outgoing and incoming mail)
•       The Importance of effective skip-Tracing to effectively address debt collections (comparison and contrast of the USA and other countries)
•       The Skip- Tracing worksheet (Exhibit)
•       Various laws, rules and regulations-Compliance Requirements
•       Contingency planning and its relevance to debt collection and revenue management
•       Internal and external customer service procedures in relation to revenue management (videos)
•       Fraud mitigation concerns of debt collections or Revenue Management Department
•       Hurricane-Learning About the types of natural disasters and its relevance to Debt Collection and Revenue Management  (Crisis Management)

This was an extensive, informative and thorough course that covered a broad range of topics that are relevant to the operations of a Debt Collection and Revenue Management Department. The instructor made an emphasis on debt collection techniques and skill sets that are required to be a successful debt collector to reach goals and objectives that are set by your department. Some of the techniques included the importance of skip tracing, securing full or partial payments and promissory agreements. We discussed debt collectors and debt manager’s job descriptions. It was mentioned of the importance of management to update performance appraisals regularly, set realistic goals for staff and follow up on feedback.
Special emphasis was placed on the importance on the management of a department’s most valuable asset, i.e. people and staff to increase staff morale and productivity. We also reviewed videos that provide steps to make effective collection calls, particularly dealing with debtor’s stalls, objections and disputes. The instructor discussed in depth the importance of pursing debts at various stages such as 30, 60, and 90 days and its relevance to effective recovery. It was emphasized that a practical approach to collection is to analyze the following criteria of the debts:
•       How many debts are being managed
•       What amount is owed
•       How many debts are skip accounts
•       How many debts is disputed by debtor
•       How many debts are in court
•       How many debts are in bankruptcy
•       How long it takes to resolve a disputed debt
It was highlighted that resources are more effectively used to pursue newer debts to avoid the delay of payment due to the difficulties of collection for aged debts.

On the second day, we discussed a practical and realistic approach to manage debts for stages of delinquency. The instructor used illustrations of graphs for tracking statistics of debts for comparisons over various periods. We also reviewed debt collection software and their vital functions to organize files, compile debtors’ details and communication within a Debt Collection Department.
We talked about the layout of a debt collection department and its purposes. We participated in an activity to better understand the use of collection abbreviated codes and their functions.

On the third day, we reviewed various samples of debt collection letters for effective communication whether by email, text or mail and the importance of using various templates for specific stages of the debt. Emphasis was also made on time management and the use of schedules within a debt collection department to provide coverage at all time to eliminate the risks of missing vital calls for collections. We participated in an activity to review codes that can be used to manage/analyze the success of mail sent to debtors. We discussed skip tracing practices used in USA compared to other countries. The instructor also mentioned various laws, rules and regulations-compliance requirements; particularly Summary Collection Communication Guidelines-Fair Debt Collection Practices Act Summary, the FCBA (Fair Credit Billing Act) and FCBDRA (Fair Credit Billing Report Act) and bankruptcy laws.
On the last day, we discussed contingency planning and its role in debt collection and the effect hurricanes have on the collection of revenue and emergency preparedness for the aftermath of natural disasters.  We watched videos on customer service and telephone etiquette and discussed customer service strategies to build customers loyalty such as acronym VISPAC:
•       V- Value
•       I- Information
•       S-Speed in Service
•       P-Personality
•       A-Customer add-ons
•       C-Convenience

We also discussed fraud mitigation concerns of a debt collection department and the purpose of auditors and reconciliation department.
Attending this course have allowed me to gain a clearer understanding of my duties as a debt collection officer, so that I can maximize time spent while negotiating payment plans and contacting debtors. I have realized the importance of effective communication with the debtor; whether by letter, email or face to face and how this plays a key role in collection of revenue. I also learned the importance of having debt statistic s for comparing recovery efforts during different periods. I have benefitted by learning to use collection strategies and provide exceptional customer service when possible, to gain customer loyalty for effective collection of revenue. I would definitely attend another Cohen and Klein course and recommend that all of my colleagues attend at some time for further knowledge on these critical topics in debt collection and revenue management.
Recommendations:
•       It was recommended to train all staff for exceptional customer service that exceeds the customers’ expectations and experience. This practice works hand and hand with productive debt collections.
•       The recommendations were made that Managers/Head of Departments have regular meetings with their team to ensure targets/goals set for the department is being meant. This would assist all parties to evaluate performance and have a clearer understanding of the way to proceed forward to successfully achieve targeted goals/objectives of the department.
•       It would be recommended to review the current software used for debt collections due to advancement with technology to provide additionally features such as scheduling and prompting debts for call back, prompting for debts with missing payments, drop list of various classifications or codes to identify communication or types of debts etc.

•       Recommendations are made to revise templates used for demand letters to be customized using various types of letters for specific stages of the debt and delegate signing authorities for severity of debts at each stage 30, 60 and 90 days etc.