Mahalaxmi Financial Services jobs for Debt Recovery Agent in Hyderabad. Last Date to apply: 09 Jun 2025
HOT JOBDebt Recovery Agent
Job Description
Job Overview:
A Debt Recovery Agent is responsible for recovering outstanding debts owed to a company by individuals or businesses. This role involves contacting debtors, negotiating payment arrangements, and ensuring compliance with relevant laws and company policies. Debt recovery agents play a critical role in maintaining a company's cash flow by working to recover overdue accounts through communication, negotiation, and legal processes when necessary.
Key Responsibilities:
1. Debt Collection:
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Contact debtors via phone, email, and written correspondence to request payment on overdue accounts.
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Handle a portfolio of outstanding debts, following up regularly to ensure timely repayment.
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Negotiate payment terms with debtors, offering flexible solutions where appropriate (e.g., payment plans or settlements).
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Maintain detailed records of communications with debtors and payment arrangements.
2. Negotiation & Problem Resolution:
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Engage with debtors in a professional manner, seeking to resolve issues and reach amicable agreements.
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Persuade clients to pay off debts while maintaining customer satisfaction and professionalism.
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Address customer concerns or disputes related to their debt, finding effective solutions that are in line with company policies.
3. Monitoring & Reporting:
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Regularly update records on payment statuses, documenting collection efforts, and maintaining accurate account information.
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Monitor the progress of collections, reporting on overdue accounts to management regularly.
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Analyze client accounts to determine the best course of action for debt recovery.
4. Legal & Compliance:
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Ensure all collections are in compliance with relevant local, state, and national regulations (e.g., Fair Debt Collection Practices Act, GDPR for data protection).
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Prepare reports and documentation for potential legal action if the debt is not paid after several attempts.
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Liaise with legal teams or external legal advisors if further action is required, such as issuing demand letters or initiating court proceedings.
5. Customer Communication & Relationship Management:
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Build and maintain positive relationships with clients, handling sensitive situations with professionalism and empathy.
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Provide customers with information about their outstanding debts, payment options, and account status.
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Be empathetic towards customers experiencing financial hardship and work with them to find feasible repayment solutions.
6. Debt Recovery Strategy:
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Work with management to develop and implement strategies for maximizing debt recovery.
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Provide feedback on strategies for improving recovery rates and addressing persistent payment issues.
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Recommend changes to policies or processes that can improve the effectiveness of debt recovery efforts.
7. Reporting & Documentation:
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Maintain accurate, up-to-date records of all debt collection activities.
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Prepare weekly, monthly, or quarterly reports on collection progress for management review.
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Keep track of payments and write-offs, documenting reasons for non-recovery when applicable.
More information about this Debt Recovery Agent Job
Please go through the below FAQs to get all answers related to the given Debt Recovery Agent job
- What are the job requirements to apply for this Debt Recovery Agent job position?
- Ans: A candidate must have a minimum of fresher as an Debt Recovery Agent
- What is the qualification for this job?
- Ans: The candidate can be a Graduate from any of the following: 12th Pass (HSE), 10th Pass (SSC)
- What are the salary requirements for this job?
- Ans: The salary range is between 13000 and 25000 Monthly. The Salary will depend on the interview. This Debt Recovery Agent is a Full Time in Hyderabad.
- What is the hiring Process of this job?
- Ans: The hiring process all depends on the company. Normally for an entry level, hiring the candidate has to go for Aptitude, GD (If they look for communication),Technical test and face to face interviews.
- This Debt Recovery Agent is a work from home job?
- Ans: No ,its not a Work from Home Job.
- How many job vacancies are opening for the Debt Recovery Agent position?
- Ans: There are immediate 1 job openings for Debt Recovery Agent in our Organisation.
Job Particulars
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