Icollect India Collections Executive Interview Questions and Answers for Freshers

Q1. Previous experience
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Q1. What is collection
Ans. 
Collection is the process of recovering unpaid debts from individuals or businesses.
• Collection involves contacting debtors to remind them of their outstanding debts

• Negotiating payment plans with debtors to settle the debts

• Taking legal action against debtors who refuse to pay

• Maintaining accurate records of all collection activities

• Examples: calling customers for overdue payments, sending reminder letters, hiring a colle
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Q2. Secoure and unsecured
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Q1. What is a work for collection
Ans. 
A work for collection refers to the process of pursuing overdue payments from individuals or businesses on behalf of a creditor.
• Contacting debtors to remind them of outstanding payments

• Negotiating payment plans or settlements

• Documenting all communication and payment agreements

• Escalating collection efforts if necessary, such as involving legal action

• Maintaining accurate records of all collection activities
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Q1. How to handle NPA customers
Ans. 
Handle NPA customers by understanding their situation and offering solutions to help them repay their debts.
• Listen to their concerns and empathize with their situation

• Offer flexible repayment options based on their financial situation

• Provide clear communication and follow-up regularly

• Consider legal action as a last resort

• Maintain professionalism and respect at all times
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Q2. Which buckets are handled
Ans. 
Buckets handled depend on the type of debt and its age.
• Buckets are categorized based on the number of days past due.

• Typically, buckets range from 0-30 days, 31-60 days, 61-90 days, and so on.

• The collection officer will handle the buckets assigned to them based on their experience and expertise.

• They will work to recover the debt from each bucket, starting with the oldest and most delinquent debts first.
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