BILL COLLECTORS keep track of accounts that are overdue and attempt to collect payment on them. Some are employed by third-party collection agencies, while others work directly for the original creditors. Collectors locate and notify customers of delinquent accounts. They look for debtors who have moved. Collectors inform debtors of overdue accounts and ask for payment. They may attempt to learn the cause of the delay in payment. When possible, they offer advice and counsel on how to pay off debts. If customers fail to respond, collectors prepare a statement to that effect for the credit department of the establishment.
Salary, Size & Growth
- $35,000 average per year ($16.75 per hour)
- A large occupation (400,000 workers in 2010)
- Expected to grow moderately (1.9% per year)
Most BILL COLLECTORS are required to have at least a high school diploma. Some college education is becoming increasingly important. Experience in telemarketing or as a telephone operator maybe be useful. Once hired, bill collectors usually receive on-the-job training. This includes telephone techniques, negotiation skills, and the laws governing the collection of debt. Collection agencies may require their collectors to become certified by the American Collectors Association (ACA).