1. Why do you want to work here as Recovery Officer?
This is where you want to demonstrate your knowledge and passion regarding this particular employer. You should at the very least have looked through their website or talked with some current employees about the company.
2. Tell me what would be your ideal job?
This is an interesting question I've been asked several times, again a good one to prepare for ahead of time. I would not provide an answer to a job that is entirely out of the field you are looking in. For instance if you are interviewing to be an accountant I would not respond that your ideal job would be hand modelling. Instead your going to want to tailor your answer more towards what this position is offering.
3. Do you know what is Fair Debt Collection Practices Act?
It is an act which is prevalent and valid in U.S, and it creates guidelines according to which the bill collectors may conduct business, and it also determines the rights of consumers involved with bill collectors.
4. Tell me what is a letter of demand?
A “letter of demand” is usually issued by a bill collector to the customer, stating about the filing a lawsuit if payment is not done by debtor in given period.
5. Tell us what do you feel is the biggest challenge of working as a debt collector?
The entire work of a debt collector is challenging. What I find most irksome is when debtors go into hiding, making the process longer than expected.
6. Tell me what role do you tend to play in a team?
Here you want to demonstrate your knowledge of the different roles within a team and show that you have a strength but can still be versatile. For example, you might say that you think it's great that each team has a communicator, a leader, a note taker, etc. and that you tend to take on the leadership role but are also able to be a communicator or a note taker, as needed. Provide a brief example from a past experience at work.
7. What are your career goals as Recovery Officer?
You should think through this question before you go to an interview and come up with a truly honest answer that rings true for you. Then you should tailor this answer to be appropriate to the interview. If your goal is to enter an entirely different field, you need to explain clearly why this job is the perfect stepping stone to that goal. For bonus points, identify a well-known mentor in your field, and explain the assets and aspects of their career that are touchstones for your own career goals.
8. Explain me how do you ensure your success in situations such as when clients go into hiding?
Part of the work of a debt collector is to investigate the whereabouts of debtors. I have great investigative skills which make it somewhat easy for me to locate clients, by going through official and unofficial channels!
Third parties include
☛ The client or consumer
☛ The client's attorney
☛ Client's reporting agency
☛ The Creditor
☛ The Creditor's attorney
☛ The debt collector's attorney
10. Explain me what are the skills required to be a bill collectors?
Bill collectors should be good in communication and negotiations skill has they have to deal with customers who are in stressful financial situations.
11. Tell me about your experience as Recovery Officer?
Each position is going to be different and obviously the interviewer is going to drill down on the specific functions of the job and test your knowledge. If you have listed it on your resume it's fair game for the interviewer. Remember your resume may just give them some queues on questions to ask you. If you talk about your experience making snow cones be ready to describe the process in detail. If it's something you truly don't know, say as much but then offer how you think that it could work. Use it as an opportunity to show your willingness to figure things out.
12. What would you say is your biggest strength as Recovery Officer?
Don't go overboard here, but don't be afraid to highlight what you think your strengths are. If you can't think of what they might be ask a friend, a parent, a spouse, your grocer. Get some honest feedback and be ready?
Customers usually have excuses like
☛ Cheque is in post: Ask him to send a copy of cheque through mail and inquire about the cheque number, date and what name the cheque is issued. If they are telling you the truth then, it will provide you all the facts you asked for and if not then probably they are lying
☛ Not received any statement, notice or any invoice: It is the most common excuse you will face. Ask them to give their address and make a request to pay the debt on that day itself.
☛ Account department operates only at 9am to 12pm one day a week: In such cases, think about the company size, is it really big to have an accounting department. And if yes, try to contact the director or partner of the company they can process your payment.
☛ Debtor is never available: Try to get personal contact number through which you can reach the debtor if that is not working send a warning letter about the payment to the debtor's address, and they should call you back.
☛ Cash flow problem: If the client is really facing cash-flow problem ask him to pay the amount in small installment, if he is still resentful about paying the debt than refer them to a debt counsellor. If the problem is temporary then give him some time to overcome his problem but time should not exceed to a longer duration.
☛ Signatory is passed away: Nothing much can be done in such cases, unless you have a proper legal paperwork that states the third party name for the payment if anything goes wrong with the main party.
☛ Account is already been paid: If the debtor gives such excuses then try retrieve all the information like which bank account, date and day of the payment deposited, request to mail a copy of deposit slip, etc. If he stammers anywhere while giving information, then get alert it's a red flag.
☛ Too busy: Show appreciation to debtor that keeps him busy, and politely ask them to settle the payment without any delaying as it is the best interest for him.
14. Explain me what did you decide to take up the work of a debt collector in the first place?
I have always felt that my follow-up skills are excellent. This coupled with an inherent interest to do something challenging on a daily basis is what made me pick up this work, and make a career out of it!
Creating lists of delinquent accounts and sorting them to prioritize clients, contacting debtors through telephone, email and in person to solicit payments from them, sending out reminders, and ensuring that all payments are properly logged so that accounts can be closed out, are some of the main duties I expect to be performing as a debt collector.
The interviewer wants to know how you are going to work with them and their style. There isn't a specific right answer here because there are definitely supervisors or managers that are very difficult to work with again the interviewer is looking for how you as the interviewee would fit in the team.
17. Tell me before filing a lawsuit against debtor what all things need to be considered?
Things to be considered before filing a lawsuit is
☛ Is yours claim large enough to sue, as most attorneys in U.S will not file a lawsuit under $1000 and even $2000
☛ Is debtor active in business or job
☛ Find the correct address where you can send a legal notice to the debtor
☛ Check whether debtor holds up enough cash or property to pay the debts
☛ Some debtors won't pay you unless legal action is not held, so hire an attorney who has experience in such cases
☛ If the client has the upper hand then always go for a settlement, as they have rights to counter claim against you for damages
☛ Can you provide enough proof or documentation that substantiate the debt
☛ Will you be able to present a witness if needed
☛ Does the cost include the warrant filing a lawsuit
Whether or not you get a similar type of question this is a great theme to think about before your interview. Think back through your career or education or any prior experience and think of a situation where you presented with a very difficult situation and how you either overcame the situation or didn't. Remember you don't always have to win, but you need to demonstrate that you can learn from these types of situations. This is not a one sentence answer, the interviewer is looking for you to demonstrate that you have problem solving skills to work through a situation or that you can handled some ambiguity.
19. Tell me what makes you feel that you are an excellent person to hire as a debt collector?
I have over 6 years of experience working as a debt collector. In addition to experience, I am well-versed in strategizing ways to connect with debtors and solicit payment. The last 4 years that I have worked as a debt collector, I have been successful in closing all accounts assigned to me. I'm quite sure that I will be a great addition to your organization.
20. Tell me do you enjoy working as part of a team?
There is a subtle balance to be achieved when answering this question. You want to show that you can indeed be a great team member, collaborating with others and working together to produce a great end result. However, you also want to emphasize that you value the opportunity to share your own input and also that you have the ability to take instruction and run with it without having your hand held.
In order to achieve this subtle balance, you should answer that you do enjoy working as part of a team, but also that you aren't afraid of taking on individual tasks, either. You should then provide two examples from your past; one that shows true collaboration and one that shows an ability to work independently in a manner that is an asset to the company.
A final note is that there are often gender stereotypes at play here that you should be aware of. Women are often seen as collaborative but unable to take initiative, so females should emphasize the portion of the answer that shows off their ability to take the lead on projects. On the other hand, men are sometimes seen as aggressive and unable to cooperate and take the lead from others, so their examples should emphasize their experience with collaboration.
21. Why are you interested in working with this company as Recovery Officer?
There are several different things that an employer may be trying to get at when asking this question. Address them all in your answer, and you'll have a successful interview. Those things include:
☛ What do you actually know about our company?
☛ What skills do you bring to the company?
☛ Why are you even looking for a job in the first place?
☛ Why are you looking at getting a job that is below the status / pay of a previous job you've held?
Answer this common interview question by doing your research about the company and position before the interview and choosing a fact about the company that really interests you. Highlight this fact in the interview as a reason you want to work with the company, and then explain concisely how your skills dovetail with this.
If you are applying for jobs below your previous title, briefly explain that you realize that you may look overqualified for the position, but that you're excited about the opportunity to learn some new skills from your younger co-workers while serving as a mentor as appropriate in specific situations. You may also want to mention that you appreciate that you won't be the leader in this new position, and that you have appropriate respect for your boss (even if he is younger or less experienced than you are).
22. Where do you see yourself in 5 years as Recovery Officer?
Replace the 5 with a variable number of years but the key is that you are thinking about your future. This is not the time to say retired! A more ideal answer would be an advanced role that would still fit within this particular employer. Don't be afraid to say that you would like to be management or move up, but your answer needs to be tempered so that it doesn't appear that you want this position just so you can drive your way to some other part of the company. Absolutely you need to get your foot in the door, but don't highlight the fact that you are considering this position just so you can find something better in the same company.
23. Why are you leaving your current job or conversely why did you leave your last job?
Count on this question and have your honest answer ready. If you were fired or laid off you can merely say that the job was not a good fit for me and I've moved on. This is not an opportunity to defame your previous employer or manager, this is an opportunity to show your potential company that you are passionate about their position and the promise their company represents.
24. Tell me what bill collectors can't do while calling customers for debt collection?
Bill collectors can do following things
☛ Using obscene or abusive language
☛ Harassing customers with repeated calls
☛ Calling before 8 am onwards or after 9 p.m.
☛ Giving wrong amount of your debt
☛ Calling at office hours even if you asked not to call
☛ Sharing your debt information to others
☛ Falsely claiming himself as law enforcement official or credit bureau representative
☛ Threatening unnecessarily to sue you or seize property unless they actually plan to execute it
25. Tell me what all ways a bill collector can collect his debt from a customer?
☛ By direct communication with the debtor
☛ Filing a lawsuit against the debtor
☛ By taking custody of the property or selling customer property
☛ By hiring debt collection service
