Posted:3 weeks ago| Platform: Apna logo

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Job Type

Full Time

Job Description

A loan recovery job involves contacting delinquent borrowers, negotiating payment plans, and collecting overdue loan payments while adhering to relevant laws and maintaining accurate records. Key responsibilities include staying informed of financial regulations, assessing repayment capacity, resolving disputes, and escalating complex cases to legal teams. Essential skills for this role are strong communication, negotiation, problem-solving, and organizational abilities. Borrower Communication: Contact borrowers with overdue accounts via phone or in-person to discuss loan status and payment options.  Negotiation: Negotiate suitable payment plans and repayment schedules to ensure maximum debt recovery.  Record Keeping: Maintain accurate and detailed records of all customer interactions, payment plans, and loan statuses.  Reporting: Provide regular progress reports on loan recovery activities to management or concerned authorities.  Compliance & Strategy: Ensure all actions are performed in compliance with financial laws and regulations, and contribute to developing effective debt recovery strategies.  Dispute Resolution: Resolve conflicts or disputes that arise during the recovery process in a professional manner.  Case Escalation: Collaborate with legal teams or other departments to address complex or escalated recovery cases. 

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