Gain insight into the essential qualifications, important duties, key responsibilities, and vital skills that form a well-rounded Collection Associate job description.
What does a Collection Associate do?
A Collection Associate is someone who helps collect money that is owed to a company. They work with both the company and the people who owe money to make sure that payments are made. They might also make plans for people to pay back their debt.
Job Description
We are looking for a dedicated Collection Associate to help us get back money that we are owed. In this job, you will talk to people on the phone, try to make deals for them to pay back their debt, and send information about late payments to the Credit Bureau.
To do well as a Collection Associate, you should know about the Fair Debt Collection Practices Act (FDCPA) and have experience in a similar job. A great Collection Associate will be able to make plans to get back money and stop the company from losing money.
Job Duties and Responsibilities
- Talking to other people at the company to make plans to collect money.
- Making plans to collect money that follow the FDCPA.
- Calling people to talk about paying back their debt.
- Making deals for people to pay back their debt in a way that works for them.
- Negotiating deals to get the most money back from people who owe money.
- Keeping records of all the papers, plans, and money that are collected.
- Looking for people who owe money by checking databases, loan papers, and background checks.
- Sending information about late payments to the Credit Bureau and starting legal actions if needed.
- Deleting records when debt is paid off.
Requirements and Qualifications
- Having a certificate or training for collecting debt is preferred.
- At least 2 years of experience working in sales or customer service.
- Previous experience in collecting debt is helpful.
- Knowing how to use debt collection software, like Collect! and ezyCollect.
- Knowing a lot about the FDCPA.
- Having experience in making plans to collect debt.
- Knowing how to find people who owe money by looking at public documents and databases.
- Being good at negotiating with people who owe money.
- Being able to work with others to collect debt.
- Having good recordkeeping and communication skills.