A Credit / Collections Officer earns an average salary of Rs 218,442 per year. Experience has a moderate effect on income for this job. Most people move on to other jobs if they have more than 10 years' experience in this career. Skills that are associated with high pay for this job are Credit Control, Collections, and bill collections.

Rs 135,506 - Rs 505,083
Rs 140K
Rs 240K
Rs 510K
MEDIAN: Rs 236,783
10%
50%
90%
Rs 0Rs 505K
Salary Rs 135,506 - Rs 505,083
Bonus Rs 4,894 - Rs 59,000
Commission Rs 23,500
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
Rs 137,284 - Rs 505,940
  • Country: India
  • Currency: INR
  • Updated: 13 Jan 2018
  • Individuals Reporting: 174

Job Description for Credit / Collections Officer

A credit/collections officer is responsible for answering inbound calls and making outbound calls to clients who are past due on their accounts. Experience in the credit or banking industry is preferred but not necessary, as it is often an entry-level position. Good communication skills are essential, as the credit/collections officer will be trying to recover company losses by obtaining payments from delinquent clients. The credit/collections officer must be able to handle basic math to set up payment plans based on budget information provided by clients, and must be able to calculate the amount a client can afford to pay each month based on that budget. Good phone manners are required, and the credit/collections officer must be able to speak proper English so that callers can understand what is being said. Other language skills are a plus, as many clients might not speak English as their first language. A credit/collections officer must be able to look over an account history and identify any past problems or potential future problems when setting up payments or discussing a settlement. The employee should be able to respond to caller concerns and difficulties with a sense of empathy and understanding, but should be able to firmly request that each client make his or her due payment or make some arrangements to begin paying off the delinquent account. A credit/collections officer must have a working knowledge of the Fair Debt Collection Practices Act, and should adhere to all legal requirements of the FDCPA in contacting clients and those who represent clients. (Copyright 2018 PayScale.com)


Credit / Collections Officer Tasks

  • Identify and communicate with customers with delinquent accounts by mail, phone, etc.
  • Work out terms for payment or initiates other actions as necessary.
  • Ensure collections operations function smoothly and effectively.

Credit / Collections Officer Job Listings

Pay Difference by Location

National Average: Rs 241,984

Larger city markers indicate a job is popular in that location.

Related Job Salaries

Key Stats for Credit / Collections Officer

Gender

Female
24 %
Male
76 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 3 votes.
Less than 1 year
6%
1-4 years
62%
5-9 years
24%
10-19 years
7%
20 years or more
1%

Experience Affects Credit / Collections Officer Salaries

Experienced
▲40%

Mid-Career
▲24%

National Average
Rs 242,000

Entry-Level
▼17%

Skills That Affect Credit / Collections Officer Salaries

Credit Control
▲75%

Collections
▲43%

bill collections
▲36%

National Average
Rs 242,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 3 votes.

Gender

Female
24 %
Male
76 %

Years of Experience

Less than 1 year
6%
1-4 years
62%
5-9 years
24%
10-19 years
7%
20 years or more
1%

Common Health Benefits

medical benefits
Medical: 73%
dental benefits
Dental: 6%
vision benefits
Vision: 4%
no benefits
None: 25%