Debt Collectors

Payment Collectors

High school diploma or equivalent in banking or finance across India

Previous relevant work experience

The tasks a Bill and Account Collector is expected to perform include: Locating and notifying customers of delinquent accounts to solicit payments

Receiving payments and posting amount to customer's account

Preparing statements to credit department if customer fails to respond

Initiating repossession proceedings or service disconnection

Keeping records of collection and status of accounts

Locating and monitoring overdue accounts, using computers and a variety of automated systems

Recording information about financial status of customers and status of collection efforts

Conferring with customers by telephone or in person

Advising customers of necessary actions and strategies for debt repayment

Persuading customers to pay due amounts Sorting and filing correspondence, and performing miscellaneous clerical duties

Performing various administrative functions for assigned accounts

Arranging for debt repayment or establishing repayment schedules

Well-versed with analysing information and evaluating results to choose the best solution and solve problems

Proficient in customer needs assessment, meeting quality standards for services and evaluation of customer satisfaction

Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms and other office procedures and terminology

Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data

Will be updated

Active listening

Effective communication skills

Good interpersonal skills

Time management skills

Mathematical skills

Social perceptiveness

Judgment and decision making skills

Critical thinking

Persuasion skills

Negotiation skills

Complex problem solving ability

It is a desk job

Need to handle a team of Executives

Local travelling is not a part of this job role

Part-time work and contractual jobs are available in some cities

Work from home option is not available

Working hours

Banks, Debt collection companies usually work for 5/6 days a week and 8/9 hours everyday. This may vary from company to company Shift system maybe available

Is the job suitable for a candidate with special needs?Maybe

This job is considered mildly hazardous or dangerous Occupational hazards include strained vision, back aches, joint pain, fatigue, stress etc.Health risks include exposure to long working hours, staring at computer screen, etc.

For candidates with up to 2 years? experience - INR8,000 to INR9,000 per month

For candidates with 2 to 5 years? experience - INR15,000 to INR16,000 per month

For candidates with over 5 years? experience - INR19,000 to INR20,000 per month

(These figures are indicative and subject to change)

Emergence of Debt Collection Business in India

The third-party debt collection industry plays an important role in the Indian economy. The industry employs hundreds of thousands of Indians as collection professionals, who collect on past-due accounts referred to them by various credit grantors, such as credit card issuers, banks, retail stores, hospitals and other health care services, or by government departments. Business purchases of this industry and personal purchases by its owners and workers ripple through the economy, supporting hundreds of thousands more jobs across the country. Further, the industry benefits the economy by recovering billions of dollars in delinquent debt each year that would otherwise go uncollected. The economic benefits of third-party debt collection are significant.

Call centre for a third-party collection companies all across India Banks across India

Local debt collection agencies across India

Towns and cities across India

Will be updated

Degree or Diploma from Accounting and Finance Institutes all across India

Will be updated