A bill/account collector communicates with invoiced entities to facilitate payment for past-due accounts. A person in this job may work directly within a company's accounts receivable department or they may be employed by a financial services company that contracts out specialized collection services or that purchases past-due debts to gain some payment.
An account collector typically spend much of his or her day doing phone work, reaching out to past-due or delinquent account holders to attempt to make contact, gain information, and set up payment for accounts receivable. If the collector works directly in the accounts department of a company, he or she typically prioritizes accounts by amount owed and time past due. For independent debt or financial firms, the collector more typically works with pre-established lists of account contacts; in this case, because these entities are typically more difficult to extract payment from, the collector’s job involves information gathering, investigations, and (in some cases) negotiation as regards payment schedules.
A bill collector likely must provide data or reports on their efforts to supervisors, as well as update account information in relevant databases to reflect incoming remittances and payment schedules. As a result, in addition to phone skills, a bill collector must be comfortable with computer work and standard office processes.
Bill/account collectors generally need at least a high school diploma or equivalent. Although this is frequently an entry level position, an employer may look for some previous office experience. The company expects its bill collectors to be aware of all laws pertaining to collection and adhere to them. It is likely - especially with debt collection companies - that part of a collector’s compensation will involve commissions on debts paid.
Bill / Account Collector Tasks
Ensure collections operations function smoothly and effectively.
Work out terms for payment or initiates other actions as necessary.
Identify and communicate with customers with delinquent accounts by mail, phone, etc.