How will you recover loan from customers

Question

Accepted Answer

We will use a combination of communication channels and legal actions to recover loans from customers.

We will first try to communicate with the customer and understand their situation.
We will offer flexible repayment options and negotiate a payment plan.
If the customer fails to make payments, we will take legal actions such as sending legal notices and filing a lawsuit.
We may also hire a debt collection agency to recover the loan.
We will follow all legal procedures and regulations while recovering the loan.
We will maintain a record of all communication and actions taken during the recovery process.

Accepted Answer

to convince the customer , and tell them about loan installment payment benefits on time, that your credit score will not be reduce, credit score will be good for future to get loan, Civil will be good

How will you recover loan from customers

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