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Collections associate vs collections, customer service

The differences between collections associates and collectionss, customer service can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a collections associate and a collections, customer service. Additionally, a collections associate has an average salary of $38,589, which is higher than the $32,870 average annual salary of a collections, customer service.

The top three skills for a collections associate include phone calls, customer service and UPC. The most important skills for a collections, customer service are strong customer service, customer service, and payment arrangements.

Collections associate vs collections, customer service overview

Collections AssociateCollections, Customer Service
Yearly salary$38,589$32,870
Hourly rate$18.55$15.80
Growth rate-8%-8%
Number of jobs20,297161,544
Job satisfaction--
Most common degreeBachelor's Degree, 43%High School Diploma, 33%
Average age4646
Years of experience1212

What does a collections associate do?

A collections associate is an individual who acts as a liaison between creditors and customers to collect outstanding payments and negotiates debt payments. Collections associates must contact debtors through telephone to negotiate debt recovery and prevent recurring delinquency. They must enact debt recovery plans and collaborate with other departments on debt collection strategies. They are required to research publicly-available resources such as loan documents and background checks to track down defaulters. They must also initiate legal proceedings when debt recovery fails and send statements of delinquency to the credit bureau.

What does a collections, customer service do?

A collections customer service or collections agent is the person who is in charge of collecting past-due bill payments. Collections agents establish a list of individuals who failed to make their payments. They organize the list based on the severity of their delinquency. It is their task to find the location of the customers through background checks, credit bureau information, and loan documents. Those who are interested in this job should develop skills in intuition, quick thinking, problem-solving, and communication.

Collections associate vs collections, customer service salary

Collections associates and collectionss, customer service have different pay scales, as shown below.

Collections AssociateCollections, Customer Service
Average salary$38,589$32,870
Salary rangeBetween $23,000 And $63,000Between $27,000 And $39,000
Highest paying CityDanbury, CTDanvers, MA
Highest paying stateAlaskaVirginia
Best paying companyJPMorgan Chase & Co.University of California
Best paying industryFinanceAutomotive

Differences between collections associate and collections, customer service education

There are a few differences between a collections associate and a collections, customer service in terms of educational background:

Collections AssociateCollections, Customer Service
Most common degreeBachelor's Degree, 43%High School Diploma, 33%
Most common majorBusinessBusiness
Most common college--

Collections associate vs collections, customer service demographics

Here are the differences between collections associates' and collectionss, customer service' demographics:

Collections AssociateCollections, Customer Service
Average age4646
Gender ratioMale, 34.4% Female, 65.6%Male, 29.3% Female, 70.7%
Race ratioBlack or African American, 12.3% Unknown, 4.2% Hispanic or Latino, 17.5% Asian, 3.8% White, 61.7% American Indian and Alaska Native, 0.5%Black or African American, 11.4% Unknown, 4.2% Hispanic or Latino, 20.3% Asian, 3.8% White, 59.8% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between collections associate and collections, customer service duties and responsibilities

Collections associate example responsibilities.

  • Plan and conduct sensitive HUMINT collection operations with an emphasis on managing and debriefing confidential sources.
  • Perform follow up on Medicaid accounts.
  • Execute assertive collection skills for inbound/outbound calls while meeting FDCPA guidelines.
  • Call center collections following FDCPA guidelines for third party outbound collections.
  • Perform collections activities on delinquent loan accounts to include repossessions, foreclosures, bankruptcy proceedings, and disposition of repossess assets.
  • Position requires knowledge of Medicaid/Medicare formulary of cover drugs, the dosage and restrictions.
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Collections, customer service example responsibilities.

  • Monitor all assign accounts by reviewing the client's aging, manage all potential bad debit, DSO, aging.
  • Provide excellent verbal, written, oral communication skills, attend ongoing training of collections and FDCPA regulations and guidelines.
  • Provide excellent interpersonal, negotiation, and customer service skills via telephone.
  • Research accounts to verify credits and debits make are accurately post against supporting documents showing timely reflect within the FDCPA guidelines.
  • Prevent impending loss and increase profitability through negotiation and enforcement of schedule collection campaigns.
  • Submit additional information request by insurance companies such as medical records, primary/secondary insurance explanation of benefits (EOB).
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Collections associate vs collections, customer service skills

Common collections associate skills
  • Phone Calls, 16%
  • Customer Service, 14%
  • UPC, 10%
  • Time Card, 7%
  • Retail Store, 7%
  • Patients, 4%
Common collections, customer service skills
  • Strong Customer Service, 45%
  • Customer Service, 12%
  • Payment Arrangements, 5%
  • Credit Card Payments, 4%
  • Delinquent Accounts, 4%
  • Past Due Accounts, 3%

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