Collections jobs

Where to Find

Collections Jobs

 

While no one likes to pick up their phone and find one of these professionals on the other end, you may want to keep Collections jobs, in mind when you are out job hunting. Bill and account collectors, sometimes just called collectors or collection agents, try to recover payment on overdue bills and negotiate repayments.  This is really fast growing industry, let's take a look and see if it may be right for you.

 

Collections jobs will typically have you handling the any number of tasks, including; Finding consumers and businesses who have overdue bills Tracking down consumers who have an out-of-date address by using the Internet, post office, credit bureaus, or neighbors, a process typically called “skip tracing”. Informing debtors that they have an overdue bill and try to negotiate a payment.

 

Going over the terms of sale or contract with the debtor, when necessary Learning the reasons for the overdue bills, which can help with the negotiations Offering credit advice or refer a consumer to a debt counselor, when appropriate Collections jobs will normally involve phone work such as contacting debtors by phone, although sometimes they do so by mail. They use computer systems to update contact information and record past collection attempts with a particular debtor. Keeping these records can help collectors with future negotiations.

 

The main task with Collections jobs is finding a solution that is acceptable to the debtor and maximizes payment to the creditor. Listening to the debtor and paying attention to his or her concerns can help the collector negotiate a solution. After the collector and debtor agree on a repayment plan, the collector continually checks to ensure that the debtor pays on time. If the debtor does not pay, the collector submits a statement to the creditor, who can take legal action. In extreme cases, this legal action may include taking back goods or disconnecting service.

 

With all Collections jobs the federal and state laws that govern debt collection, must be followed at all times. These laws require that a collector make sure they are talking with the debtor before announcing that the purpose of the call is to collect a debt. A collector also must give a statement, called “mini-Miranda”, which informs the account holder that they are speaking with a bill or debt collector.

 

Although many Collections jobs are found with third-party collection agencies, some do work in-house for the original creditor, such as a credit-card company or a health care provider. The day-to-day activities of in-house collectors are generally the same as those of other collectors. Collections jobs may work on commission and usually have goals they are expected to meet. Typically, these include calls per hour and success rates. To see the different available positions in your area, check out www.careermkt.com.

 

Collections jobs accounted for about 405,700 jobs in 2012. Many work in a call center for a third-party collection agency rather than the original creditor.  Whichever industry the collectors work in, most of their time is spent on the phone tracking down or negotiating with debtors. Collections jobs can be stressful because many people become angry and confrontational when pressed about their debts.

 

Collectors often face resistance while trying to do their job tasks. Successful collectors must face regular rejection and still be ready to make the next call in a polite and positive voice. Most Collections jobs require a high school diploma. Collectors usually get on-the-job training after being hired.  You can expect to make around $20-35,000, depending on experience.

 

John Roos , is a career management expert and in this post discusses the types of Collections jobs available and how you can get into the field.  John's advice has helped thousands of job seekers worldwide get and succeed at the job of their dreams.

Find out more at careermkt.com.