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Collections associate vs collector

The differences between collections associates and collectors 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 collector. Additionally, a collections associate has an average salary of $38,589, which is higher than the $34,872 average annual salary of a collector.

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

Collections associate vs collector overview

Collections AssociateCollector
Yearly salary$38,589$34,872
Hourly rate$18.55$16.77
Growth rate-8%-8%
Number of jobs20,29723,948
Job satisfaction--
Most common degreeBachelor's Degree, 43%Bachelor's Degree, 31%
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 collector do?

Collectors are responsible for monitoring and providing immediate actions for client accounts with overdue payments. Collectors must be able to contact clients through phone or e-mail. A collector's duty also includes negotiating on payment procedures and offering repayment plans and alternative payment solutions to free the debt. Collectors need to document any agreements made to the client, updating and verifying contact information, resolving account discrepancies and client complaints, and report escalated concerns to the management.

Collections associate vs collector salary

Collections associates and collectors have different pay scales, as shown below.

Collections AssociateCollector
Average salary$38,589$34,872
Salary rangeBetween $23,000 And $63,000Between $27,000 And $44,000
Highest paying CityDanbury, CTLos Angeles, CA
Highest paying stateAlaskaAlaska
Best paying companyJPMorgan Chase & Co.Uline
Best paying industryFinanceFinance

Differences between collections associate and collector education

There are a few differences between a collections associate and a collector in terms of educational background:

Collections AssociateCollector
Most common degreeBachelor's Degree, 43%Bachelor's Degree, 31%
Most common majorBusinessBusiness
Most common college--

Collections associate vs collector demographics

Here are the differences between collections associates' and collectors' demographics:

Collections AssociateCollector
Average age4646
Gender ratioMale, 34.4% Female, 65.6%Male, 36.0% Female, 64.0%
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, 12.1% Unknown, 4.1% Hispanic or Latino, 20.1% Asian, 3.8% White, 59.5% American Indian and Alaska Native, 0.5%
LGBT Percentage8%8%

Differences between collections associate and collector 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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Collector example responsibilities.

  • Manage patient focuse reports, collection modules, provider/facility A/R, collections, patient discharge letters.
  • Monitor all assign accounts by reviewing the client's aging, manage all potential bad debit, DSO, aging.
  • Prevent impeding loss and increasing profitability through negotiation and enforcement of schedule collection campaigns, consistently achieving high success standards.
  • Provide customer service via telephone and correspondence for patients and authorize representatives regarding outstanding patient accounts in accordance with facility protocol.
  • Verify and run eligibility on the following insurance, Medi-Cal, Medi-Cal HMO, Medicare, Medicare HMO.
  • Provide excellent customer service while following HIPPA confidentiality laws.
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Collections associate vs collector skills

Common collections associate skills
  • Phone Calls, 16%
  • Customer Service, 14%
  • UPC, 10%
  • Time Card, 7%
  • Retail Store, 7%
  • Patients, 4%
Common collector skills
  • Patients, 14%
  • Customer Service, 10%
  • Payment Arrangements, 10%
  • Excellent Interpersonal, 9%
  • Delinquent Accounts, 8%
  • Student Loans, 5%

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