Assistant Manager Collections Interview Questions and Answers

I believe in customer visits and feedback to collect EMI. Tally calling is used as a last resort.

• My working style involves building a rapport with customers and understanding their financial situation.

• I prioritize customer satisfaction and aim to find a mutually beneficial solution.

• If a customer is not ready to pay, I first try to understand the reason behind it and offer flexible payment options.

• If all else fails, the company may resort to hiring a tally caller to collect th...read more

Collections is the process of recovering unpaid debts. Targets can be achieved through effective communication and negotiation.

• Collections involves contacting customers who have not paid their debts

• Effective communication and negotiation skills are key to achieving targets

• Using data analysis to identify trends and prioritize accounts can also help achieve targets

• Offering payment plans or settlements can incentivize customers to pay off their debts

• Maintaining accurate records ...read more

Yes, I can handle a large portfolio by implementing effective organization and prioritization strategies.

• I would start by categorizing the portfolio based on different criteria such as payment history, outstanding balances, and delinquency status.

• I would then prioritize the accounts based on their level of risk and potential for recovery.

• To manage the portfolio efficiently, I would utilize automated collection software and tools to streamline processes and track progress.

• Regu...read more

Secured loans are backed by collateral, while unsecured loans are not. NPA refers to non-performing assets, write off is when a loan is considered uncollectible, and pre NPA refers to loans at risk of becoming NPA.

• Secured loans are loans that are backed by collateral, such as a house or car, reducing the risk for the lender.

• Unsecured loans are not backed by collateral, making them riskier for the lender.

• NPA (Non-Performing Asset) refers to loans where the borrower has failed ...read more

Collections involve the process of recovering overdue payments from customers or clients.

• Collections involve contacting customers who have overdue payments.

• Negotiating payment plans with customers to settle their debts.

• Recording all communication and payment agreements with customers.

• Utilizing collection software to track and manage accounts.

• Following legal guidelines and regulations when pursuing collections.

• Examples: contacting customers for late credit card payments, follo...read more

NPA stands for Non-Performing Asset. It refers to a loan or advance where interest or installment of principal remains overdue for a period of 90 days.

• NPA indicates that the borrower is not able to generate enough income to repay the loan.

• Banks classify NPAs into substandard, doubtful, and loss assets based on the period for which the asset has remained non-performing.

• NPAs impact the profitability and liquidity of banks, as they have to set aside provisions for potential loss...read more

I have 3 years of experience in collections, including managing delinquent accounts and negotiating payment plans.

• Managed a portfolio of 500+ delinquent accounts

• Negotiated payment plans with customers to bring accounts current

• Utilized skip tracing techniques to locate hard-to-find customers

• Worked with legal team to initiate legal action against non-paying customers