Collection Agents assist businesses to recover overdue payments from customers. They contact debtors by telephone, negotiate recovery plans, and prevent repeated payment delinquincy. They are also required to send statements of satisfied and delinquent debts to the Credit Bureau.
When interviewing Collection Agents, look for candidates with a solid understanding of debt management and the ability to work under pressure. Avoid candidates who lack negotiation skills and those with limited knowledge of best practices in debt collection.
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Interview Questions for Collection Agents:
1. Can you tell me about a challenging debt recovery you succeeded with?
Assesses the candidate's experience and reveals whether the described scenario aligns with industry standards.
2. What are the most effective strategies for finding elusive debtors?
Evaluates the candidate's knowledge of publicly-available databases and records, as well as their experience in tracking down debtors.
3. How would you respond if a debtor is evasive when you remind them of payments?
Demonstrates the candidate's experience and their ability to remain patient, yet persuasive.
4. How would you determine how much a debtor could afford to pay back?
Tests the candidate's knowledge of developing manageable debt plans that help prevent repeated payment delinquency.
5. Which debt collection software have you found useful? Why?
Highlights the candidate's experience in working with industry-related software.
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