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Account resolution specialist vs debt collector

The differences between account resolution specialists and debt collectors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both an account resolution specialist and a debt collector. Additionally, an account resolution specialist has an average salary of $35,602, which is higher than the $33,865 average annual salary of a debt collector.

The top three skills for an account resolution specialist include account resolution, outbound calls and inbound calls. The most important skills for a debt collector are customer service, outbound calls, and payment arrangements.

Account resolution specialist vs debt collector overview

Account Resolution SpecialistDebt Collector
Yearly salary$35,602$33,865
Hourly rate$17.12$16.28
Growth rate-8%-8%
Number of jobs87,71323,385
Job satisfaction--
Most common degreeBachelor's Degree, 39%High School Diploma, 34%
Average age4646
Years of experience1212

What does an account resolution specialist do?

An account resolutions specialist works at a company's accounting department, where they are in charge of overseeing account receivables to ensure client compliance. Their responsibilities usually include conducting research and analysis, assessing client accounts and credit histories, coordinating with managers and collection agents, and monitoring delinquent accounts. They may also directly communicate with clients to follow-up on invoices, process payments, or even arrange new payment plans while adhering to the company's policies and regulations. Moreover, they must maintain records of all transactions and present regular reports to managers.

What does a debt collector do?

Debt collectors are also known as collection agencies and are responsible for recovering past due debts. Most of them are hired by companies to collect debt either for a fee or a percentage of the total amount recovered. Also, some debt collectors buy delinquent debts at a discount and seek to collect the debt's full amount. They have many strategies to collect debts, including calling debtor's phones, sending letters, and even visiting them at their home. However, if debtors fail to pay their due, debt collectors can either update the debtor's credit report or sue them over debt. Once sued and debtors ignore court hearings and lose by default, results could either be garnishment on debtor'debtors' wages or levies on their bank.

Account resolution specialist vs debt collector salary

Account resolution specialists and debt collectors have different pay scales, as shown below.

Account Resolution SpecialistDebt Collector
Average salary$35,602$33,865
Salary rangeBetween $29,000 And $43,000Between $26,000 And $43,000
Highest paying CityHartford, CTSan Francisco, CA
Highest paying stateConnecticutCalifornia
Best paying companyAmerican ExpressMayor Ethan Berkowitz
Best paying industryFinanceConstruction

Differences between account resolution specialist and debt collector education

There are a few differences between an account resolution specialist and a debt collector in terms of educational background:

Account Resolution SpecialistDebt Collector
Most common degreeBachelor's Degree, 39%High School Diploma, 34%
Most common majorBusinessBusiness
Most common college--

Account resolution specialist vs debt collector demographics

Here are the differences between account resolution specialists' and debt collectors' demographics:

Account Resolution SpecialistDebt Collector
Average age4646
Gender ratioMale, 32.4% Female, 67.6%Male, 30.7% Female, 69.3%
Race ratioBlack or African American, 12.5% Unknown, 4.1% Hispanic or Latino, 18.9% Asian, 3.7% White, 60.4% American Indian and Alaska Native, 0.5%Black or African American, 12.2% Unknown, 4.0% Hispanic or Latino, 20.0% Asian, 3.4% White, 59.9% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between account resolution specialist and debt collector duties and responsibilities

Account resolution specialist example responsibilities.

  • Manage accounts for healthcare clients, review detailed patient information for payment resolution while abiding HIPPA privacy and security regulations.
  • Research and resolve complex customer accounts while adhering to department policies and procedures, as well as FDCPA guidelines.
  • Resolve outstanding patient accounts by an integrate team dynamic with office administrators, insurance companies and patients.
  • Insure office practices are in compliance with HIPAA regulations.
  • Review and correction of diagnosis codes, CPT codes and modifiers.
  • Advise clients/debtors of necessary actions and strategies for debt repayment while using FDCPA and other government regulations.
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Debt collector example responsibilities.

  • Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
  • Work with FHA, obama programs at the time.
  • Educate customers on ways to get medical assistance such as Medicaid, Medicare etc.
  • Prevent foreclosure by putting people on repayment plans, submitting requests for modifications, or deed in lieu.
  • File Medicaid, Medicare and commercial claims consisting of PPO discounts, nurse practitioner discounts, humanitarian discounts, etc.
  • Maintain security and confidentiality of company and client information, following FDCPA regulations.
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Account resolution specialist vs debt collector skills

Common account resolution specialist skills
  • Account Resolution, 17%
  • Outbound Calls, 12%
  • Inbound Calls, 10%
  • Account Balances, 10%
  • Patients, 10%
  • Federal Regulations, 8%
Common debt collector skills
  • Customer Service, 9%
  • Outbound Calls, 9%
  • Payment Arrangements, 8%
  • Delinquent Accounts, 8%
  • Credit Card Payments, 6%
  • FDCPA, 5%

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