What does a Debt Collector do?
Debt Collectors work either for an organization or for debt collection agencies contacting people who owe money to an organization. They work closely with customers to communicate how much they owe the company, set a payment deadline and assist them with a payment plan to eventually resolve their debt. Many Debt Collectors are often in charge of investigating certain payment discrepancies and working to properly resolve them. They typically build trust and relationships with customers to help prevent future payment issues.
Debt Collector skills and qualifications
Debt Collectors need to be able to keep accurate records as they send out past due notices, keep track of address changes and other contact information and report missed payments to credit bureaus. They need to investigate and resolve any complaints, so they should have experience with research and be comfortable talking to a variety of people. Other important skills include:
- Office and database software skills
- Negotiation and conflict resolution skills
- Speaking and listening skills
- Multi-tasking and time management skills
- Prioritization skills
- Knowledge of relevant legal requirements
- Ability to work independently
- Attention to detail
Debt Collector salary expectations
The average salary for a Debt Collector is $13.55 per hour. Exact salary may vary depending on the applicant’s education, level of experience and geographical location. A Debt Collector typically stays in the position for around a year.
Debt Collector education and training requirements
A high school diploma is often required to work as a Debt Collector. Many people in this position have prior experience in telemarketing or negotiated sales positions. Individuals who work well in customer service and have experience with sales often excel in the position of a Debt Collector. Debt Collectors occasionally assist with administrative work, so they should have experience in an office setting.
Debt Collector experience requirements
Many companies prefer prior experience as a Debt Collector or at least some experience in a call center. Applicants should have experience in sales and be persistent. Proficiency in computer programs also boosts a resume for a Debt Collector. Debt Collectors serve as a resource and a subject matter expert and may provide training to other team members, so they should have experience with training others.
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