Collections Analyst
Quick Facts
Median Salary$51,181
Most Common EducationBachelor's degree
Projected 10-Year Growth-10.30%
Assessment MatchTake the Assessment
What They Do
A Collections Analyst communicates with clients to provide support and follows up on outstanding payments. Prepares and reviews reports about collection accounts and monitors collection of over-due accounts. May also analyze credit risk and recommend credit extension.
Core Tasks:
- Record information about financial status of customers and status of collection efforts.
- Locate and monitor overdue accounts, using computers and a variety of automated systems.
- Locate and notify customers of delinquent accounts by mail, telephone, or personal visits to solicit payment.
- Advise customers of necessary actions and strategies for debt repayment.
- Arrange for debt repayment or establish repayment schedules, based on customers' financial situations.
- Answer customer questions regarding problems with their accounts.
- Confer with customers by telephone or in person to determine reasons for overdue payments and to review the terms of sales, service, or credit contracts.
- Persuade customers to pay amounts due on credit accounts, damage claims, or nonpayable checks, or to return merchandise.
- Receive payments and post amounts paid to customer accounts.
- Trace delinquent customers to new addresses by inquiring at post offices, telephone companies, credit bureaus, or through the questioning of neighbors.
- Notify credit departments, order merchandise repossession or service disconnection, and turn over account records to attorneys when customers fail to respond to collection attempts.
- Sort and file correspondence and perform miscellaneous clerical duties, such as answering correspondence and writing reports.
- Perform various administrative functions for assigned accounts, such as recording address changes and purging the records of deceased customers.
What to expect as a Collections Analyst
1Earn a Bachelor's degree
39% of people achieve this level of education.
2Gain skills and experience
See Collections Analyst related courses on Tallo
3Land a job
610 openings for Collections Analysts
Career Progression
in United States (Nation)
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