A Collector recovers overdue payments on accounts. Collectors track debtors down by phone or mail and assist them to make payments by negotiating repayment plans, and encouraging them to find alternative payment solutions. Also known as Collections Agent or Collections Specialist.
##Collections Job Description Template
We are looking to hire an enthusiastic Collector to recover late payments on our accounts. The Collector will review clients’ accounts in our database, and interview them to establish their financial resources. Based on this the Collector will establish their ability to pay debts. You will ask clients probing questions over the phone to better understand payment objections, and use your ability to multitask by typing notes simultaneously.
To ensure success you need to be up to date with all laws, regulations, policies and procedures pertaining to the collections industry, and approach clients with tact. Top candidates will be articulate, and have strong critical-thinking and listening skills.
- Using various skip tracing methods to locate clients.
- Interviewing clients telephonically to establish their ability to pay debt.
- Overcoming stall tactics and objections, and suggesting sources of money for debt payments.
- Encouraging clients to utilize payment options such as credit cards, and securing information for administrative services to process.
- Ensuring ACH requests are processed correctly.
- Negotiating settlements by arranging clients’ payments over longer time span.
- Confirming clients’ information and payment agreements.
- Informing management regarding effectiveness of strategies for various accounts.
- Complying with applicable laws, regulations, policies and procedures.
- High School Diploma, GED, or suitable equivalent.
- Previous work experience in customer service, sales, collections or related field.
- 1+ years telemarketing experience preferred.
- Excellent knowledge of collection processes.
- Excellent verbal communication, negotiation and people skills.
- Outstanding phone etiquette.
- Proficient computer skills.
- Proficient mathematical skills.
- Resilient with impolite clients.