What does a collections representative do?
A Collections Representative's role is to collect payment for outstanding or overdue bills through phone calls, email, mail, or sometimes personal appointments. A Collections Representative is required to have a great deal of research and communication skills in order to reach out to people and explain how to settle their debts or even negotiate a payment term or plan. Collections Representatives must also make sure that these terms are honored and met, and create reports for the creditor regarding the delinquent accounts.
Collections representative responsibilities
Here are examples of responsibilities from real collections representative resumes:
- Protect A/R assets by managing a portfolio of accounts to maximize gainful sales and reduce debt losses.
- Maintain effective communication and utilize negotiation skills with internal and external customers to effect collections while maintaining customer good will.
- Submit all reconsideration and appeals if need.
- Conduct periodic data cleaning of queues balances deny with deny appeals.
- Resolve valid or authorize NSF charges due to decline credit cards or ACH transactions.
- Collect and count inventories, reconcile purchases and scan UPC's and inputting price information.
- Process ACH, checks, or debit payments with customer's approval and properly notate customer's account.
- Comply with HIPAA standards and guidelines maintaining patient confidentiality.
- Handle Medicare and Medicaid incoming patient calls in reference to medical statements receive
- Determine account status and execute necessary/legal proceedings in compliance with FDCPA and corporate regulations.
- Research medical policies, perform clerical duties and accurately apply payments to patients accounts.
- Maintain customer confidence and protect operations by keeping information confidential as per HIPAA guidelines.
- Recognize potential problem accounts and utilize collection techniques to resolve accounts according to FDCPA regulations.
- Create patient accounts for new patients and maintain established patient accounts by updating demographic information.
- Direct the activities of a collection team focusing on third-party medical collections evaluate individual and team performance.
Collections representative skills and personality traits
We calculated that 14% of Collections Representatives are proficient in Payment Arrangements, Customer Service, and Delinquent Accounts. They’re also known for soft skills such as Listening skills, Negotiating skills, and Speaking skills.
We break down the percentage of Collections Representatives that have these skills listed on their resume here:
- Payment Arrangements, 14%
Provided assistance to account holders by assessing financial ability, offering payment arrangements or repayment programs, to cure delinquent accounts.
- Customer Service, 13%
Processed new customer service, service disconnects as well as updated current customer's personal information under company policy and guidelines.
- Delinquent Accounts, 9%
Collect delinquent accounts in a timely, orderly & professional manner while following all standardized collections procedures.
- Past Due Accounts, 6%
Administered past due accounts and facilitated required decisions.
- Customer Accounts, 4%
Organized and tracked subscribers accounts on a daily basis while providing payment alternatives, maintaining customer accounts through effective retention methods.
- Debt Repayment, 4%
Analyzed financial data and negotiated debt repayment plans for cardholders while maintaining accurate documentation of cardholders account and repayment schedules.
Common skills that a collections representative uses to do their job include "payment arrangements," "customer service," and "delinquent accounts." You can find details on the most important collections representative responsibilities below.
Listening skills. One of the key soft skills for a collections representative to have is listening skills. You can see how this relates to what collections representatives do because "collectors must pay attention to what debtors say when trying to negotiate a repayment plan." Additionally, a collections representative resume shows how collections representatives use listening skills: "communicated with dental and medical offices which were in arrears; set up payment arrangements. "
Negotiating skills. Another essential skill to perform collections representative duties is negotiating skills. Collections representatives responsibilities require that "the main aspects of a collector’s job are reconciling the differences between two parties (the debtor and the creditor) and offering a solution that is acceptable to both parties." Collections representatives also use negotiating skills in their role according to a real resume snippet: "provided excellent customer service while negotiating payment arrangements regarding collection issues and customer discrepancies. "
Speaking skills. collections representatives are also known for speaking skills, which are critical to their duties. You can see how this skill relates to collections representative responsibilities, because "collectors must be able to speak to debtors to explain their options and ensure that they fully understand what is being said." A collections representative resume example shows how speaking skills is used in the workplace: "access and manipulate multiple computer systems while simultaneously speaking with customers. "
The three companies that hire the most collections representatives are:
- Apria Healthcare54 collections representatives jobs
- MCI World48 collections representatives jobs
- The Fusco Group25 collections representatives jobs
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Compare different collections representatives
Collections representative vs. Collections, customer service
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.
While similarities exist, there are also some differences between collections representatives and collections, customer service. For instance, collections representative responsibilities require skills such as "debt collection," "process payments," "insurance carriers," and "background checks." Whereas a collections, customer service is skilled in "strong customer service," "collections," "payment processing," and "patient accounts." This is part of what separates the two careers.
Collectionss, customer service earn the highest salaries when working in the automotive industry, with an average yearly salary of $36,740. On the other hand, collections representatives are paid more in the finance industry with an average salary of $35,387.On average, collectionss, customer service reach similar levels of education than collections representatives. Collectionss, customer service are 0.2% more likely to earn a Master's Degree and 0.1% more likely to graduate with a Doctoral Degree.Collections representative vs. Collections specialist
As their name entails, collections specialists collect payments for the outstanding accounts receivables. Collections specialists list the names of those who were unable to pay their overdue bills based on their delinquency severity. They locate the customers through loan documents, background checks, credit bureau information, and other databases or paperwork. These specialists are expected to be excellent in their negotiation and communication skills. They should also be trustworthy, reliable, and act professionally to be considered as good specialists.
Each career also uses different skills, according to real collections representative resumes. While collections representative responsibilities can utilize skills like "debt collection," "computer system," "credit card accounts," and "background checks," collections specialists use skills like "patients," "phone calls," "data entry," and "patient accounts."
Collections specialists may earn a higher salary than collections representatives, but collections specialists earn the most pay in the finance industry with an average salary of $36,657. On the other hand, collections representatives receive higher pay in the finance industry, where they earn an average salary of $35,387.Average education levels between the two professions vary. Collections specialists tend to reach similar levels of education than collections representatives. In fact, they're 0.7% more likely to graduate with a Master's Degree and 0.1% more likely to earn a Doctoral Degree.Collections representative vs. Collections/accounts receivable
An officer for collections/accounts receivable is in charge of a company's financial activities, ensuring that they receive payment from clients. They primarily focus on overseeing all billing and invoices, processing and verifying all receipts and rendered services, maintaining an accurate record of all transactions, producing reports and presentations, reviewing account and payment histories, and ensuring the accuracy of all processes involving the matter. Furthermore, should there be any complex issues, it is essential to reach out to a manager or a supervisor right away.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from collections representative resumes include skills like "debt collection," "outbound collection calls," "computer system," and "credit card accounts," whereas a collections/accounts receivable is more likely to list skills in "patients," "provides administrative support," "data entry," and "patient accounts. "
Collections/accounts receivables earn the best pay in the finance industry, where they command an average salary of $39,163. Collections representatives earn the highest pay from the finance industry, with an average salary of $35,387.When it comes to education, collections/accounts receivables tend to earn similar degree levels compared to collections representatives. In fact, they're 2.0% more likely to earn a Master's Degree, and 0.0% more likely to graduate with a Doctoral Degree.Collections representative vs. Collections coordinator
Usually working alongside a company's account receivables team, a collections coordinator is in charge of developing strategies to optimize the payment collection operations. Among their responsibilities include reaching out to clients through calls or correspondence to remind them of their payment obligations, arranging appointments, processing payments, arranging payment terms, and researching a client's communication information such as cellphone number, address, or email. Moreover, a collections coordinator must maintain an active communication line with staff while promoting and enforcing the company's policies and regulations.
Types of collections representative
Updated January 8, 2025
