AAT Level 4 Credit Control

dalmatian

Could somebody please confirm whether when they say that a debt collection agency should be taken on and a claim placed with the credit insurers, that this surely does not mean at the same time. I would have thought it logic to only make a claim when the debt collection agency proved unfruitful. Please clarify.... I have my exam on Saturday and would be grateful for an explanation.

SandyHood

I think you know. My impression is that you are having exam nerves.
If the customer is still in business and hasn't paid what is owed, you may choose to send a debt collector. (I have never heard of an insurance company letting you insure for not chasing overdue accounts)
If the customer is insolvent or has gone into administration there is no point sending a debt collector for the money they owe you. This is where a credit insurance claim can be made.

If your employer sells on credit, try and have a quick chat with the credit controller. 5 minutes of relevant chat with a couple of anecdotes can be worth 20 pages in a text book.

ChrisJ30

I recently took this exam and today found out I passed wohoo! I requested my feedback on performance and noticed my written questions were borderline even though I had written alot so my tip is to keep practicing the written questions 5 and 7.
Anyway 1 resit and 2 more exams to go.