ASSESSING THE REQUIREMENTS AND BENEFITS OF DEBT COLLECTOR TRAINING IN SOUTH AFRICA

Abstract

South Africa, like many developing countries has experienced a high number of the delinquent debtors in the collections industry. The focus of this study is on describing the requirements in the training of debt collectors and how it benefits the industry, while suggesting the strategies for improving debt collecting training in South Africa. A theoretical survey and a literature review were undertaken to identify the elements involved in training debt collectors and how it benefits the industry. Firstly, as the content to be presented is debt collection and is not generic in nature, the purpose of this literature study includes the investigation and identification of the elements involved in debt collection services. This includes, inter alia, the study of computing technologies, identification of a design strategy for debt collection systems and identification of a model to define distributed objects as an object-oriented view of distributed systems. This investigation is necessary, since debt collection training and design are important aspects of any lending institution system as it provides a framework for accountability. The principle method of investigation in this study was a quantitative exploration of assessing the degree of how the financial lending institution benefits through the training of debt collectors in South Africa, Johannesburg. The study used the questionnaire approach, particularly closed ended questions.60 respondents were targeted for the study.