A Debt Recovery Agent is responsible for contacting individuals or businesses who have defaulted on their loan payments or debts. The role involves negotiating payment arrangements, providing financial counseling, and recovering outstanding debts. Field visits may be required to locate debtors, conduct face-to-face meetings, and assess repayment capabilities.
Contact Debtors: Initiate contact with debtors via phone calls, emails, and letters to discuss overdue accounts and negotiate repayment terms.
Negotiate Payment Arrangements: Work with debtors to establish feasible payment plans based on their financial situation and ability to repay.
Provide Financial Counseling: Offer guidance and support to debtors facing financial difficulties, assisting them in managing their debt and budget effectively.
Conduct Field Visits: Perform on-site visits to debtors' residences, workplaces, or other relevant locations to locate individuals, verify information, and discuss repayment options.
Assess Repayment Capabilities: Evaluate debtors' financial circumstances through discussions, documentation review, and observation during field visits to determine their capacity to repay.
Document Activities: Maintain accurate records of all communications, negotiations, and agreements with debtors, ensuring compliance with legal and company guidelines.
Collaborate with Legal Teams: Coordinate with legal departments or external legal counsel to escalate cases when necessary, ensuring compliance with regulatory requirements and pursuing legal action if debts remain unpaid.
Monitor Payment Compliance: Follow up with debtors to ensure adherence to agreed-upon payment plans, address any issues or concerns, and take appropriate action in cases of non-compliance.
Provide Regular Updates: Communicate regularly with supervisors or team leaders to provide updates on case progress, identify challenges, and seek guidance on complex situations.
Maintain Confidentiality: Handle sensitive financial infor
0 - 1 Years
05 Openings
1.0-3.0 Lac/Yr
Face-to-Face interview
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