Billing & Collections

Bill and account collection specialists try to recover payment on overdue bills by negotiating payment terms and schedules with debtors.

Top Skills and Abilities:

Familiar with the Fair Debt Collection Practices Act (FDCPA) and other laws governing debt collection practices
Negotiation and conflict resolution skills
Excellent written and verbal communication
Patience and stress management
Active listening
Compassionate without lacking confidence
Handle a high volume of inbound/outbound calls

Top 3 Tasks:

Contact customers with delinquent accounts and attempt to either collect the overdue amount or negotiate a payment plan to collect it in installments.
Maintain records of contacts and attempted contacts with delinquent account customers as well as records of any payments collected from the customer. Performs various administrative functions for assigned accounts such as recording address changes and purging records of deceased customers.
Locate customers who have an out-of-date contact information by using the Internet, post office, credit bureaus, or neighbors—a process called “skip tracing”.

Overview

Collections specialists are charged with the task of recovering debt on behalf of creditors. They must follow federal and state laws that govern debt collection. These laws require that collectors 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.

Bill and account collectors generally contact 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.

The main job of bill and account collectors is finding a solution that is acceptable to the debtor and maximizes payment to the creditor. After the collector and debtor agree on a repayment plan, the collector regularly checks to ensure that the debtor pays on time.