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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 | Debt Collector | |
| Yearly salary | $35,602 | $33,865 |
| Hourly rate | $17.12 | $16.28 |
| Growth rate | -8% | -8% |
| Number of jobs | 87,713 | 23,385 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 39% | High School Diploma, 34% |
| Average age | 46 | 46 |
| Years of experience | 12 | 12 |
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.
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 specialists and debt collectors have different pay scales, as shown below.
| Account Resolution Specialist | Debt Collector | |
| Average salary | $35,602 | $33,865 |
| Salary range | Between $29,000 And $43,000 | Between $26,000 And $43,000 |
| Highest paying City | Hartford, CT | San Francisco, CA |
| Highest paying state | Connecticut | California |
| Best paying company | American Express | Mayor Ethan Berkowitz |
| Best paying industry | Finance | Construction |
There are a few differences between an account resolution specialist and a debt collector in terms of educational background:
| Account Resolution Specialist | Debt Collector | |
| Most common degree | Bachelor's Degree, 39% | High School Diploma, 34% |
| Most common major | Business | Business |
| Most common college | - | - |
Here are the differences between account resolution specialists' and debt collectors' demographics:
| Account Resolution Specialist | Debt Collector | |
| Average age | 46 | 46 |
| Gender ratio | Male, 32.4% Female, 67.6% | Male, 30.7% Female, 69.3% |
| Race ratio | Black 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 Percentage | 8% | 8% |