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Effective collection in factoring
Who’s it for and what’s it about?
This course is designed for those who work within a factoring role or those with a factoring function within their role.
Throughout this course we will examine owner occupier debts and what we can do as factors to reduce these and address consistent non-payers, as well as the do’s and don’ts of debt collection in relation to legislation and the deeds of condition.
This course will highlight the importance of managing debts from the moment a debt arises and examine the prescriptions and limitations of debt collection. We will also explore where debt comes from and if there are tools you can put in place to manage this before it arises.
The course will be delivered through a series of interactive activities and group discussions and participants may find it useful if they have examples for the day and they are aware of what they currently do to collect debt or how they respond to consistent non-payers.
Course Content
- The Property Factors (Scotland) Act 2011 Code of Conduct for Property Factors and debt
- The Title Conditions (Scotland) Act 2003 and debt
- The Tenement (Scotland) Act 2004 and Debt
- Prescriptions and limitations
- What the deeds of conditions state
- The Consumer Credit Act
- What others are doing in the sector
- What can be done to recover debts
- Debt recovery procedures
Learning Outcomes
By the end of this course you will understand:
- What the legislation allows you to do as a factor to collect unpaid debt and to address consistent non-payers
- The limitations period and the importance of acting fast to collect debts to avoid having to write off the debt owed
- Options for debt recovery including time to pay arrangements, notice of potential liability, inhibitions and passing fees onto other owners within the scheme property
Dates: 12th December
Time: 9:30am – 4:30pm
Trainer: Melissa Neilson
Costs: Share Members £195.00/Non-Member £325.00
