Financial Difficulties & The Role Of Third Parties
"The course was ideal for clarifying the role of 3rd parties. I really enjoyed the day and will definitely be able to use everything I learnt back in the workplace."
Sarah Davenport, Norwich & Peterborough Building Society - March 2008
What you'll learn
In the wake of the CREDIT CRUNCH, gain confidence in dealing with Debt Advisers, Debt Management Agencies and customers in financial difficulties.
This one day interactive workshop guarantees a day of topical and constructive discussion on the roles, rights and responsibilities of all those involved in financial difficulty cases, drawing on first hand experience of theory versus reality.
Core course elements:
- Financial Difficulties and Financial Statements: Which debts get priority over others? What are customers 'allowed' to spend before paying their debts? Understand the financial and regulatory considerations of querying offers and requesting proof.
- Responsibilities of the Collector AND the Third Party: Understand how debt collectors and 3rd parties are regulated in relation to their dealings with each other and the customer. What is an 'appointed representative' and at what point must we stop dealing direct with the customer? Look at real-life cases and listen to real calls
- Types of Debt Advice: Learn about the advantages, disadvantages and key differences between the Fee Charging Debt Management Companies, the Non Fee Charging Debt Advisers and the Free Advisory Services. Understand the acceptance criteria for each, the fee structures, calculations and terms and conditions. Is your customer getting accurate advice? Learn how changes to the Consumer Credit Act have affected the type of advice sought since October 2008.
- Dealing with Vulnerable Customers: Is your team aware of the rights and responsibilities of the creditor when a debtor has Mental or Physical health problems? Does your organisation have a robust policy for helping customers who threaten suicide? Learn how and when to liaise with social workers and health officials.
- Tips and Hints for Collectors: Learn what to say and what not to say in cases of financial difficulty. Understand what can and can't be questioned on a customer’s income and expenditure form. Understand the difference between unfair pressure and polite assertiveness.