Collections Specialist
Quick Facts
Median Salary$43,354
Most Common EducationHigh school or GED
Projected 10-Year Growth-31.08%
Assessment MatchTake the Assessment
What They Do
A Collections Specialist works for a company or credit agency to collect bill or account payments owed by customers. Reviews the amount of an overdue account, contacts customers to request payment, and negotiates payment plans as needed.
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 Specialist
1Earn a High school or GED Diploma
43% of people achieve this level of education.
2Gain skills and experience
See Collections Specialist related courses on Tallo
3Land a job
1012 openings for Collections Specialists
Career Progression
in United States (Nation)
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