Scope of the Role
Debt Manager is responsible in collecting outstanding debts, creating repayment plans and assisting the Consumer Durable Loan debtors in managing their dues. He should also contact the debtors, negotiating payment arrangements, resolving account discrepancies and ensuring compliance with collection laws and regulations.
Job Description
- Debtor outreach: Contacting customers with outstanding debts via phone, email, and mail.
Negotiation: Arranging and negotiating payment plans or settlements with debtors.
Account management: Maintaining accurate records of communications, payments, and account statuses.
Dispute resolution: Investigating and resolving discrepancies in accounts.
Debt Collector:
Focuses on individual accounts, negotiating payment plans, and resolving inquiries. They may also advise on financial management and meet collection targets.
Debt Management Officer/Manager:
Oversees a team or portfolio of accounts, develops collection strategies, tracks delinquency, allocates targets, and recommends legal action for complex cases.
Debt Management Counselor:
Works with individuals to help them get back on their feet. They provide guidance on budgeting, debt negotiation, and creating long-term repayment plans.
Government Debt Manager:
Manages a government's debt, which involves borrowing money by issuing bonds or securing loans, analyzing financing options, and managing risks and costs for the government's debt portfolio
Ideal Candidates
Looking for candidates with good experience in Consumer Durable Loan Collections.