Bill and Account Collectors

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Also known as:  Accounts Collector, Bill Collector, Billing Representative, Collection Agent, Collections Clerk, Collections Representative, Debt Collector, Installment Agent, Installment Loan Collector, Insurance Collector

ABOUT BILL OR ACCOUNT COLLECTOR CAREERS

VIDEO TRANSCRIPT Expand
Bill and account collectors contact customers with overdue bills. Collectors call customers, inform them of the amount due, and ask for payment. If the customer disputes the amount or the transaction, the collector investigates the matter.

When customers move without leaving a forwarding add ...
ress, collectors check with the post office, phone companies and find computerized databases to find a new address and contact the customer. In extreme cases, a collector may have to re-possess the goods sold, cancel service or refer the account to an attorney.

Some collectors work for independent agencies that specialize in collections, while others work in-house for the retail store or bank that issued the credit. Most collectors work a 40-hour week, which may include nights and weekends. A high school diploma is sufficient to qualify for most collection positions. Skills are learned on the job, usually from experienced collectors.

Collection work can be emotionally draining, especially when it involves listening to people's money problems. Collectors must be pleasant and tactful, yet firm and persuasive enough to get the customer to pay the overdue account.
SNAPSHOT Expand
Locate and notify customers of delinquent accounts by mail, telephone, or personal visit to solicit payment. Duties include receiving payment and posting amount to customer's account; preparing statements to credit department if customer fails to respond; initiating repossession proceedings or service disconnection; and keeping records of collection and status of accounts.
Leadership
LOW
Critical decision making
HIGH
Level of responsibilities
LOW
Job challenge and pressure to meet deadlines
HIGH
Dealing and handling conflict
HIGH
Competition for this position
HIGH
Communication with others
HIGH
Work closely with team members, clients etc.
HIGH
Comfort of the work setting
HIGH
Exposure to extreme environmental conditions
LOW
Exposure to job hazards
LOW
Physical demands
LOW
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DAILY TASKS Expand
Sort and file correspondence, and perform miscellaneous clerical duties such as answering correspondence and writing reports.
Trace delinquent customers to new addresses by inquiring at post offices, telephone companies, credit bureaus, or through the questioning of neighbors.
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.
Advise customers of necessary actions and strategies for debt repayment.
Perform various administrative functions for assigned accounts, such as recording address changes and purging the records of deceased customers.
Arrange for debt repayment or establish repayment schedules, based on customers' financial situations.
Record information about financial status of customers and status of collection efforts.
Locate and notify customers of delinquent accounts by mail, telephone, or personal visits to solicit payment.
Answer customer questions regarding problems with their accounts.
Locate and monitor overdue accounts, using computers and a variety of automated systems.
Persuade customers to pay amounts due on credit accounts, damage claims, or nonpayable checks, or to return merchandise.
MAIN ACTIVITIES Expand
Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Communicating with Supervisors, Peers, or Subordinates Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Documenting/Recording Information Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
Communicating with Persons Outside Organization Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
Resolving Conflicts and Negotiating with Others Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
Organizing, Planning, and Prioritizing Work Developing specific goals and plans to prioritize, organize, and accomplish your work.
Processing Information Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
AREAS OF KNOWLEDGE Expand
Customer and Personal Service Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Clerical Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
English Language Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Mathematics Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Computers and Electronics Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Law and Government Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Economics and Accounting Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
Telecommunications Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems.
KEY ABILITIES Expand
Oral Expression The ability to communicate information and ideas in speaking so others will understand.
Oral Comprehension The ability to listen to and understand information and ideas presented through spoken words and sentences.
Speech Clarity The ability to speak clearly so others can understand you.
Speech Recognition The ability to identify and understand the speech of another person.
Written Comprehension The ability to read and understand information and ideas presented in writing.
Written Expression The ability to communicate information and ideas in writing so others will understand.
Problem Sensitivity The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
Near Vision The ability to see details at close range (within a few feet of the observer).
TOP SKILLS Expand
Speaking Talking to others to convey information effectively.
Active Listening Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Social Perceptiveness Being aware of others' reactions and understanding why they react as they do.
Persuasion Persuading others to change their minds or behavior.
Reading Comprehension Understanding written sentences and paragraphs in work related documents.
Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Negotiation Bringing others together and trying to reconcile differences.
Coordination Adjusting actions in relation to others' actions.
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