Credit Counselor Interview Questions and Answers for Freshers

Non-Performing Assets (NPA) are loans or advances that have stopped generating income for the lender. Writing off an NPA means removing it from the books as a loss.

• Non-Performing Assets (NPA) are loans or advances where the borrower has stopped making interest or principal repayments for a specified period of time.

• Banks classify NPAs based on the number of days a loan has been overdue, such as Substandard Assets, Doubtful Assets, and Loss Assets.

• Writing off an NPA means the l...read more

I would use a combination of communication, negotiation, and payment plans to collect payments from delinquent accounts.

• Contact the debtor to discuss the situation and establish a payment plan.

• Offer incentives for early payment or lump sum settlements.

• Utilize collection agencies or legal action as a last resort.

• Document all communication and payment agreements for future reference.

Accounts payable are amounts owed by a company to its suppliers for goods or services received, while accounts receivable are amounts owed to a company by its customers for goods or services provided.

• Accounts payable represent the money a company owes to its suppliers or vendors.

• Accounts receivable represent the money owed to a company by its customers.

• Accounts payable are considered a liability on the company's balance sheet.

• Accounts receivable are considered an asset on the...read more