Gain insight into the essential qualifications, important duties, key responsibilities, and vital skills that form a well-rounded Debt Collector job description.
What does a Debt Collector do?
Debt collectors are professionals who help companies collect unpaid debts from their customers. They may work in-house for the company, or be hired externally.
Job Description
We are looking for a skilled debt collector to help us collect overdue payments from our customers. This includes identifying and contacting customers with outstanding debts, creating payment plans, and negotiating new payment options. It is also important to monitor customers' adherence to these plans.
Job Duties and Responsibilities
- Identifying customers who have not followed the agreed-upon payment plans
- Calling and emailing customers to remind them of their outstanding debts
- Using different methods to locate customers who have not made payments
- Creating realistic and well-thought-out payment plans
- Negotiating new payment plans with customers
- Keeping track of customers' repayments to prevent further noncompliance
- Maintaining detailed records of all communication and actions taken
- Taking legal action if necessary
Requirements and Qualifications
- High school diploma (or equivalent)
- Formal education in finance is preferred
- Demonstrated experience in successful debt collection
- Proficiency in accounting software
- Familiarity with debt-related laws and regulations
- Excellent verbal communication skills
- Polite and professional phone etiquette
- Detail-oriented, attentive, and thorough
Debt Collector Salary
The earning potential of a Debt Collector can vary significantly based on factors such as geographic location, industry, professional experience, educational background, and the specific employer. On average, the annual salary for an Debt Collector in the United States is approximately $51240.