A Collection Officer is responsible for recovering outstanding debts and minimizing financial losses for their employer. They track delinquent accounts, negotiate repayment plans, communicate directly with debtors, and update payment records to ensure healthy cash flow while adhering to legal debt collection standards.
Key Responsibilities
Account Tracking: Monitor the company’s debtor list to identify overdue invoices, loans, or credit accounts.
Debtor Communication: Contact clients via phone, email, or mail to inform them of outstanding balances and discuss payment options.
Negotiation: Develop and negotiate manageable payment plans or settlement agreements with customers facing financial difficulties.
Record Keeping: Maintain accurate, up-to-date electronic or hard-copy logs of all communications, payment statuses, and agreements.
Escalation & Legal Action: Draft formal warning notices and coordinate with legal departments or third-party agencies to initiate legal recovery proceedings (e.g., repossessions or lawsuits) when necessary.
Pay: ₹15,000.00 - ₹18,000.00 per month
Work Location: In person
📌 Collections Officer Madurai
🏢 Buzzworks Business Services
📍 Madurai
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