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Validation of Hardcore Accounts Instructions of Doing the Field Validations. Tips in doing Account Validation. Listing of DQ Accounts printed. Loan documents/folder should be in your possession when doing the validation. Know the place of business/residence of the borrower.
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Validation of Hardcore Accounts Instructions of Doing the Field Validations
Tips in doing Account Validation • Listing of DQ Accounts printed. Loan documents/folder should be in your possession when doing the validation. • Know the place of business/residence of the borrower. • Introduce yourself properly and explain the objective of the visit • Don’t negate or affirm statement of the delinquent borrowers regarding the amount of outstanding balances and reasons of defaulting, just jot down responses.
Information to Gather • Confirm if he/or she is the person who transacted the loan • Business • Amount of principal loan • Known total outstanding balance known to the client • How many times received demand letters • How many times being followed-up for loan collection • Reason for non-paying/default. • Plans how to pay the loan