Here we have outlined collection specialist interview questions that you must ask from contenders to pick the right one.
Collection Specialist Interview Questions
The responsibility of Collection Specialists is to maintain the record of accounts receivable. Making sure the payments are made on time and routinely contacting clients about the debts are also their tasks. The contenders who are familiar with the necessary billing procedures and the Fair Debt Collection Practices Act (FDCPA) will stand out. Pay attention to the candidates who can proactively identify overdue accounts and reduce debts. This position can be stressful as it involves negotiating with the financially-strained account holders. Therefore, shortlisting those who are patient and firm will be a wise decision. While interviewing, pose hypothetical scenarios as it will help in testing whether they can handle stress management challenges or not. The contenders who can use their critical thinking skills to resolve credit issues will be ideal for this role.
Qualifications to look for:
- Bachelor’s degree
- Corporate Collections experience
Skills to look for:
- Significant knowledge of billing and collections procedures
- Knowledge of accounts receivable
- Attention to detail
- Goal oriented
- Commitment to excellent customer service
- Excellent communication abilities
- Ability to prioritize and manage multiple responsibilities
Have a look at these Collection Specialist interview questions and hire the best candidate for your company.
Operational and Situational questions
- How do you respond to customer or client complaints?
- Clients are sometimes aggressive and rude to collections personnel. How do you handle this?
- How do you strategize collections of activities?
- Describe a time when you failed to obtain payment from a client.
- Have you created a unique solution to handle a customer’s payment problem?
- Was there a time when you effectively arranged for debt repayment and established repayment schedules?
- Name the collection methods you are familiar with. Also, share some techniques that you think would be more effective for our company as well as clients?
- How do you maintain track of all payments?
- Do you believe that you can effectively handle stubborn delinquent account holders?
- Describe the things that a Collection Specialist should avoid saying when speaking to a debtor.
- Name the software that you use to enhance your productivity.
- How do you keep historical information for each account?
- Was there a time when you had to deal with a difficult client? Elaborate it.
- Have you ever faced a dilemma at work? What was the situation and what did you do?
- Describe a time when you persuaded a client to pay off a large debt. Can you explain it?
- What do you find interesting about this profile?
- Was there a time when your negotiations with a creditor failed?
- How does empathy help you in building rapport?