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Collector

          a.k.a the Collector.
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Contains the words collector.

Summary

The duties of bill and account collectors are similar across the many different organizations in which they work. First, collectors are called upon to locate and notify consumers or businesses with delinquent accounts, usually over the telephone, but sometimes by letter. When debtors move without leaving a forwarding address, collectors may check with the post office, telephone companies, credit bureaus, or former neighbors to obtain the new address. This is called “skip tracing.” Computer systems assist in tracing by automatically tracking when individuals or companies change their addresses or contact information on any of their open accounts.

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Career phase is Early career.
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Average time in this position is 2 years.

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Description

Once collectors find debtors, they inform them of the overdue accounts and solicit payment. If necessary, they review terms of sale, or credit contracts. Good collectors use their listening skills to attempt to learn the cause of delinquencies. They generally have the authority to offer repayment plans or other assistance to make it easier for debtors to pay their bills. In many cases, they are able to find payment solutions that will allow the debtor to pay off their accounts. They may also offer simple advice or refer customers to debt counselors.

If a consumer agrees to pay, the collector records this commitment and checks later to verify that the payment was made. If a consumer fails to pay, the collector prepares a statement indicating the consumer’s delinquency for the credit department of the establishment. In more extreme cases, collectors may initiate repossession proceedings, disconnect service, or hand the account over to an attorney for legal action. Most collectors handle other administrative functions for the accounts assigned to them, including recording changes of address and purging the records of the deceased.

Because people are very sensitive about their financial problems, collectors must be careful to follow applicable Federal and State laws that govern their work. The Federal Trade Commission requires that a collector positively identify the delinquent account holder before announcing that the purpose of the call is to collect a debt. The collector must then issue a statement—often called a “mini-Miranda”—that lets the customer know that he or she is a collector. Collectors also face many State laws that govern how they must proceed in doing their work. Most companies use electronic systems to help collectors remember all laws and regulations governing each call.

Collectors use computers and a variety of automated systems in their jobs. Companies keep records of their accounts using computers, and collectors can keep track of previous collection attempts and other information in computerized notes. Using this information puts them at an advantage when trying to negotiate with consumers. As with most call center workers, they use headsets instead of regular telephones. Many also use automatic dialing, which allows collectors to make calls quickly and efficiently, without the chance of dialing incorrectly.

Description Sources


Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook