Senior Collection Executive Interview Questions and Answers

Collection refers to the process of recovering unpaid debts from borrowers.

• Collection involves contacting borrowers who have defaulted on their payments.

• The goal of collection is to recover the outstanding debt and bring the account up to date.

• Collection can be done through various means such as phone calls, letters, and legal action.

• Effective communication and negotiation skills are important in collection.

• Collection executives must also be knowledgeable about relevant laws ...read more

I would seek help from a colleague or supervisor to find a solution and learn from the experience.

• Seek assistance from a more experienced colleague or supervisor

• Research and gather information to better understand the problem

• Take a step back and reassess the situation to find alternative solutions

BKT1, BKT2, and BKT3 are commonly used abbreviations in the credit industry to categorize the payment behavior of borrowers.

• BKT1 refers to borrowers who have never missed a payment and have a good credit history.

• BKT2 refers to borrowers who have missed a few payments but are still considered low risk.

• BKT3 refers to borrowers who have a history of missing payments and are considered high risk.

I convince customers by understanding their needs and offering tailored solutions.

• Listen actively to the customer's concerns and needs

• Ask questions to clarify their requirements

• Offer solutions that meet their specific needs

• Provide clear and concise information about the benefits of the solution

• Address any objections or concerns they may have

• Follow up to ensure their satisfaction