Collections Specialist

Remote

🚀 Administration

While some employers require or prefer previous collection experience, most are willing to provide on-the-job training for this position. In general, Collections Specialist positions do not require extensive job-specific training before being hired for an entry-level position. However, any experience in a customer service position will be helpful.

What does a Collections Specialist do?

Collections Specialist , or Billing Collections Specialist, is responsible for ensuring that their company receives all necessary payments from debtors. Their duties include monitoring accounts payable statements to identify debts owed to their company, contacting customers or business partners to notify them of overdue payments and documenting debts collected.

Responsibilities

A Collections Specialist should be able to fulfill various duties and responsibilities. The following are some duties and responsibilities a Collections Specialist should be able to execute:

Monitor the firm’s accounts receivable and identify overdue accounts.
Contact customers with overdue accounts and attempt to either collect the overdue amount or negotiate a payment plan to collect it in installments.
Use credit bureau data, post office information, internet searches and other tools to try to locate customers who have moved or changed phone numbers.
Maintain records of contacts and attempted contacts with delinquent account customers as well as records of any payments collected from the customer.
Resolve customer issues and complaints concerning billing.
Submit regular reports on the status of unpaid accounts and any repayment progress.

Required Skills

A competitive Collections Specialist will have certain skills and qualifications, including:

• Good listening skills • Communication skills • Familiar with the Fair Debt Collection Practices Act (FDCPA) and other laws governing debt collection practices • Negotiating skills • Patience and stress management • Problem-solving skills • Critical thinking skills

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