What does a Collector do?

Collectors recover overdue payments and past due accounts by tracking debtors down using the phone or mail. They work with them to make payments, negotiate repayment plans, and encourage them to find alternative solutions. Collectors locate clients using skip tracing methods and often interview them over the phone once they connect with them. During the interviews, they establish the ability to pay and encourage clients to utilize options including a credit card to process payment. Collectors negotiate settlements and arrange client payments over a longer period and confirm information and payment agreements with them.

Collectors must comply with applicable laws, regulations, policies, and procedures and inform management regarding a strategy’s effectiveness with various accounts. Collectors report client information to creditors and convey delinquent accounts’ status while reporting repayment plans and negotiations. Collectors also stay mindful of clients’ possible fears about being contacted for past due accounts and sometimes refer them to debt counselors for additional assistance. Collectors need a minimum high school diploma, GED, or equivalency and previous work experience in customer service, sales, collections, or related fields

What responsibilities are common for Collector jobs?
  • Coordinate loan closing with branch personnel, lenders and customers.
  • Manage, coach and train a team of collection associates to optimize collections.
  • Ability to work with others as a team to ensure quality patient care.
  • Participate in workgroups, staff meetings, and work events.
  • Complete orders of title commitments and review title reports.
  • Monitor account activity to verify member's compliance with agreed upon arrangements.
  • Maintain records on credit risks, delinquent accounts and incomplete files.
  • Establish and manage all processing forms and documents within the legal and corporate guidelines.
  • Assist with documenting all processes and procedures related to collection efforts.
  • Develop and maintain retrieval systems to enhance access to and use of the collections, and associated information.
  • Apply acquired job skills and company policies and procedures to complete standard tasks.
  • Handle finance related inquiries from internal and external contacts.
  • Participate in all aspects of research and evaluation activities.
  • Make appropriate recommendation on whether or not to foreclose based on the analysis.
  • Assist in the data audit process by identifying issues, develop audit criteria, and analyzing data.
  • Monitor performance of staff members according to established standards.
  • Maintain positive public relations to promote a professional image.
  • Analyze information and research a variety of sources to identify and resolve problems or issues.
  • Maintain and distribute information regarding product registration approvals, discontinuation, and cancellations.
What are the typical qualifications for Collector jobs?
  • Bachelor's or Graduate's Degree in accounting, business, business administration or computer science, or equivalent experience.
  • Experience with disseminating EOB information to patients and clients.
  • Fluency in HIPAA protocols and policies.
  • Extreme attention to detail and negotiation skills.
  • A critical thinker and problem solver.
  • Fluency in writing protocols.
  • A leader and professional at all times.
  • Demonstrated sound work ethic and multitasking capabilities.
  • Skilled at time management.
Education--
Work/Life Balance
3.4 ★
Salary Range--
Career Opportunity
3.2 ★
Avg. Experience8+ years

Collector Salaries

Average Base Pay

₹26,749 /month
Same as national average
Not including cash compensation
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Not enough salaries reported to show distribution
₹6T
Median: ₹27T
₹2L
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Glassdoor Estimated Salary

Collector Career Path

Learn how to become a Collector, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

Average Years of Experience

0 - 1
19%
2 - 4
30%
5 - 7
2%
8+
49%
Not including years spent in education and/or training
See Career Path

Collector Insights

Read what Collector professionals have to say about their job experiences and view top companies for this career.
CapifyCapify
Collections Senior
13 Feb 2020

“The training is great and they really focus on getting you to work to your full potential.”

AvidXchangeAvidXchange
Senior Payment Specialist
7 Jul 2020

“I was a highly respected employee and consistently recognized for my performance and work ethic.”

DiscoverDiscover
Collections Specialist
13 Mar 2022

“Pay seems good until you start the job and see just what they expect from you.”

Cardinal HealthCardinal Health
Collections
25 Aug 2021

“Career development is highly encouraged meaning it is not uncommon for people to move around roles every 2”

Gatestone & Co.Gatestone & Co.
Collections Agent
14 Sept 2020

“They have a great management team working with agent to provide a the best services to our customers.”

Preting ConsultingPreting Consulting
Senior Intelligence Collection Manager
11 Feb 2021

“Some of the best opportunities working with some of the most elite individuals in the field.”

Camping World and RV Sales
Performance Specialist
29 May 2022

“I have met some amazing people who stop by our store while the travel across the world.”

Gatestone & Co.Gatestone & Co.
Collections Agent
28 Mar 2022

“Good opportunities for collections employees or those with good phone skills who want to start a new career.”

See More

Collector Interviews

Frequently asked questions about the role and responsibilities of a Collector

The most similar professions to Collector are:
  • Patient Account Representative
  • Sales Representative
  • Sales Manager
  • Regional Sales Manager

Related Careers

Patient Account Representative
₹5,02,323
No skills overlap
Sales Representative
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Sales Manager
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Regional Sales Manager
₹14,23,059

Collector jobs