Debt Collections for All Lenders: Lessons from Credit Cards

What is This Course About?

There are two ways to learn in life and in business. The first is to learn from experience while the second is to learn from others. This comprehensive course delves into the entire collection process within the credit card industry, while also offering valuable insights applicable to various industries and companies dealing with credit and delinquent accounts. Drawing from over two decades of experience in the collection industry, this course presents a compilation of invaluable lessons on managing delinquent portfolios and sustaining profitability despite the challenges encountered.

This user-friendly, self-paced online course equips you with the knowledge and confidence to effectively manage the end-to-end debt collection process. The course runs for approximately 5 hours and covers the following key topics:

1. The significance of effective collections

2. Fundamentals of credit card operations

3. Delinquency cycles in collections

4. Essential collection terms and formulas

5. Distinct roles within collection teams

6. Stages of delinquency

7. Required skills and training for each stage

8. Tailored collection strategies for every stage

9. Adapting the lessons to non-credit card businesses

10. Powerful negotiation techniques for collection agents

11. Evaluating agent calls and providing constructive feedback

12. The crucial role of clear policies in your operations manual

13. Innovative payment schemes for clients

14. Managing debt collection agencies

15. Alternatives to outsourcing accounts to collection agencies

In addition to the core content, you'll gain access to exclusive resources, including templates for call monitoring, account audits, payment arrangement schemes, and full settlement discount matrices. Enroll now and embark on a journey to mastering debt collection management.

Who is This Course Designed For?

This comprehensive course is tailored not only for individuals working in the credit card industry seeking to understand the intricacies of a collections department but also for those involved in lending businesses. If you're struggling to manage your portfolio's delinquency, this course offers invaluable insights gleaned from the extensive history of credit card issuers, who have successfully managed delinquencies and maintained business profitability. You'll be able to adapt these best practices and customize them to fit your company's unique requirements.

For instance, several years ago, the president of a crowdfunding platform that finances farmers sought my expertise as a consultant due to their rapidly escalating delinquency rates. Following a series of meetings and just a few months of collaboration, the company restructured its collection team based on our discussions and implemented more efficient systems to effectively manage their portfolio's health. Despite operating in a distinct and unrelated field, the concepts they learned from our interactions enabled them to develop collection strategies tailored to their business needs. As a result, they now enjoy significantly reduced delinquency rates.

Enroll now and discover how this course can revolutionize your understanding of debt collection management, regardless of your industry.

Meet Your Instructor

As a seasoned debt collection consultant, I bring a wealth of experience to the table. My 18-year journey in credit card collections includes 16 years with a multinational bank and 2 years as the Head of Collections for a local bank, where I spearheaded the department's complete overhaul. Over the past few years, I've served as a consultant for numerous businesses, assisting them in refining and streamlining their processes to effectively manage delinquency and boost profitability.

Through this course, I am eager to share 20 years of knowledge and expertise in debt collection with you. Upon completion, you will possess a thorough understanding of how to establish and operate a successful collections team. Whether you're new to the field or your business is grappling with above-average delinquency rates, the insights you'll gain from this course are invaluable. You'll be equipped to prevent or rectify costly mistakes and save time in the long run, ensuring your company's sustained success.