Professional Collection Specialist Designation (PCS)

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Professional Collection Specialist Designation (PCS) Course
Introduction:
Collection specialists manage a company's financial collection department, ensuring accurate client invoicing and timely payment receipt. They monitor staff interactions with clients, ensuring adherence to company policies. Their main responsibility is resolving overdue bills by collecting payments and establishing repayment terms.
They locate debtors, maintain records of outstanding amounts and delinquency periods, and communicate with clients via phone or mail to address overdue payments and understand the reasons behind the debt. In addition, collection specialist courses provide valuable training on identifying accounts with overdue payments, maintaining accurate records, contacting debtors, and collaborating with the sales department to ensure updated client account and payment information.
Course Objectives:
After successful completion of this course you would be able to:
- Practical exam training
- Explanation through case studies
- Solving previous years exam questions
- Interact with fellow students and the instructor, who is on hand to give advice and promptly respond to questions in the discussion forums.
- Outstanding leadership and managerial skills.
- Strong time and people management skills.
- Ability to work to strict deadlines.
Who Should Attend?
The course on professional collection specialist designation (PCS) is implied for:
- Collectors
- Anyone with consumer interactions
- Anyone new to the collection industry
Course Outlines:
FDCPA Essentials for the ARM Industry
- FDCPA Essentials
- Understanding the consumer’s rights
- Responsibilities under the FDCPA as a professional debt collector
FDCPA Essentials for the ARM Industry-2
- The Fair Debt Collection Practices Act
- Identify restrictions on the method and timing of collection communications.
- Explain the purpose of the FDCPA and its implementing Regulation F.
- Identify the conditions and restrictions on the timing and method of collection communications with consumers.
Right Party Contact (“RPC”)
- Determine a Right Party Contact (“RPC”) with whom you may discuss the debt
- Limited Content Message (“LCM”)
- Mini-Miranda Disclosure
- Recognize and respond to consumer communication preferences, disputes, and attorney involvement
- Name the two federal agencies that enforce the FDCPA and explain the consequences of violations
Essential Collection Skills and Techniques
- Human Communication is our Business
- Build Rapport; Conquer Interference
- Ready, Set, Goal! Steps to Success
Essential Collection Skills and Techniques-2
- Verify the Consumer
- Identify Yourself
- Request Payment in Full
- Pause
- Ask About and Listen for Challenges
- Negotiate Solutions
- Confirm Arrangements
- Close the Call
- Previous Exam Questions | CASE STUDIES