Presentation on theme: "Validation of Hardcore Accounts Instructions of Doing the Field Validations."— Presentation transcript:
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