Description:
Job Overview:
The Late Stage Collections Specialist is responsible for managing and recovering accounts with overdue payments, often involving higher delinquency levels. This role requires strong negotiation skills, persistence, and the ability to balance firmness with customer relations to maximize debt recovery.
Key Responsibilities:
Account Analysis: Review and assess customer accounts with overdue payments to develop an understanding of the debt and its status.
Customer Contact: Initiate contact with customers who are significantly delinquent through phone calls
Negotiation: Negotiate payment arrangements, settlements, or other suitable solutions to recover outstanding balances.
Documentation: Maintain detailed and accurate records of all collection activities, conversations, and agreements with customers.
Compliance: Ensure full compliance with all relevant debt collection laws, regulations.
Recovery Strategies: Develop and implement effective recovery strategies, utilizing skip tracing techniques when necessary.
Litigation Referrals: When appropriate, recommend accounts for legal action and collaborate with legal teams.
Qualifications:
Matric Certificate. Previous experience in late-stage collections or a similar role in the financial industry. In-depth knowledge of debt collection laws and regulations. Strong negotiation and communication skills. Patience and empathy when dealing with customers in difficult financial situations.Additional Information:
Late Stage Collections Specialists focus on recovering accounts that are significantly past due. This role requires a firm but respectful approach in dealing with customers, emphasizing legal compliance and the pursuit of mutually beneficial solutions whenever possible.