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Become A Collections Specialist

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Working As A Collections Specialist

  • Getting Information
  • Interacting With Computers
  • Communicating with Supervisors, Peers, or Subordinates
  • Documenting/Recording Information
  • Communicating with Persons Outside Organization
  • Deal with People

  • Unpleasant/Angry People

  • Mostly Sitting

  • Repetitive

  • $42,220

    Average Salary

What Does A Collections Specialist Do At Kelly Services

* Perform collection calls and/or correspondence daily
* Interact with customers regarding any collection issues
* Analyze aging report
* Develop and establish process improvements based on trends
* Process customer refunds and account adjustments when necessary
* Resolve client discrepancies
* Enlist the efforts of sales and senior management when necessary to accelerate the collection process
* Establish and maintain effective and cooperative working relationships with coworkers and customers
* Prepare and submit weekly and monthly reporting
* Assist with other general accounting support tasks as needed

What Does A Collections Specialist Do At Wells Fargo

* Ability to work in a fast paced environment in both dialer and manual capacity
* Proven negotiation skills are critical to this role
* Contact customers to determine reasons for payment delinquency to charged off credit and obtain payment commitment by placing outbound calls which are non-routine and require deviation from standard screens, scripts, and procedures
* Develop location information/skip trace debtors for purpose of collecting past due payments
* May work on special projects

What Does A Collections Specialist Do At Arnold Oil Company of Austin, L.P

* Providing customer service regarding collection issues.
* Contact customers by phone regarding overdue accounts and determine reasons for non-payment.
* Responsible for monitoring and maintaining assigned accounts
* Customer calls,
* May enlist the efforts of sales and senior management when necessary to accelerate the collection process.
* Assist with the monitoring of payments on existing accounts
* Must Communicate & follow up effectively with the sales department regarding customer accounts on a timely basis
* Establish and maintain effective and cooperative working relationships with store locations and sales

What Does A Collections Specialist Do At Nuance

* Initiates collections calls in accordance with established policy/goals and within contractual terms.
* Collects receivables within stated term of accounts and not to exceed 90 days of invoicing with concentration on quick turn-around of receivables to cash.
* Encompass full understanding of the Quote to Cash process in an effort to work more effectively and efficiently with transaction agents, sales agents, contract administration and supply chain.
* Investigates issues related to delayed collections; bringing necessary data and recommendation to the immediate attention of supervisory staff for resolution.
* Maintain accurate data and backup on collection activity for management’s evaluation of aged accounts.
* Investigates past due balances and develops recommendations, escalates issues outside of policy to Accounts Receivable Manager and communicates decisions to Sales.
* Responsible for following SOX controls and guidelines as established by Nuance.
* Must work effectively with customers requiring excellent interpersonal skills as applicable to assignment

What Does A Collections Specialist Do At On-Site Associates LLC

* A. Perform receivables resolution services in accordance with pre-established contractual guidelines.
* Duties include: 1.
* Regular interaction with attorneys and staff.
* Direct client contact, in the name of the law firm, in order to resolve outstanding client receivables balances.
* Entering the results of resolution efforts into the law firm's database.
* Preparation of periodic status reports and submission of same to President of the Company.
* Company Description We are a receivables management/consulting firm founded in 1986 that services the legal and banking industries and we are located in the heart of the San Francisco financial district.
* Among our clients are some of the largest and most prestigious law firms in the

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How To Become A Collections Specialist

Collectors usually must have a high school diploma. A few months of on-the-job training is common.

Education

Most bill and account collectors are required to have a high school diploma, although some employers prefer applicants who have taken some college courses. Communication, accounting, and basic computer courses are examples of classes that are helpful for entering this occupation.

Training

Collectors usually get 1 to 3 months of on-the-job training after being hired. Training includes learning the company’s policies and computer software and learning the laws for debt collection in the Fair Debt Collection Practices Act, as well as their state’s debt-collection regulations. Collectors also may be trained in negotiation techniques.

Important Qualities

Listening skills. Collectors must pay attention to what debtors say when trying to negotiate a repayment plan. Learning the particular situation of the debtors and how they fell into debt can help collectors suggest solutions.

Negotiating skills. 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.

Speaking skills. Collectors must be able to speak to debtors to explain their choices and ensure that they fully understand what is being said.

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Collections Specialist jobs

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Real Collections Specialist Salaries

Job Title Company Location Start Date Salary
Jewelry Collections Specialist Faerber New York, Inc. New York, NY Sep 16, 2016 $62,000
Jewelry Collections Specialist Faerber New York, Inc. New York, NY Sep 22, 2016 $62,000
Digital Collections Specialist Johns Hopkins University Baltimore, MD Mar 30, 2013 $42,120
Collections Specialist OOCL (USA) Inc. South Jordan, UT Sep 02, 2014 $39,820 -
$40,676
Collection Specialist Transperfect Translations International Inc. New York, NY Nov 26, 2008 $31,806
Collections Specialist Penn Foster, Inc. Scranton, PA Dec 13, 2010 $31,200

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Top Skills for A Collections Specialist

CustomerServiceDebtRepaymentFinancialStatusPaymentArrangementsDelinquentAccountsCreditCardPaymentsPaymentPlansPastDueAccountsOutboundCollectionCallsInsuranceCompaniesFdcpaDataEntryCustomerAccountsInbound/OutboundCallsPhoneCallsAccountsReceivablesCollectionEffortsStudentLoansMedicalRecordsOverdueAccounts

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Top Collections Specialist Skills

  1. Customer Service
  2. Debt Repayment
  3. Financial Status
You can check out examples of real life uses of top skills on resumes here:
  • Provided excellent customer service using strong negotiating skills and rebuttals to get payment from borrower.
  • Complied with all federal guidelines while advising the customer of necessary actions and strategies for debt repayment.
  • Assigned responsibility for investigating and verifying financial status.
  • Set up payment arrangements, work out settlement offers to benefit both client and consumer.
  • Locate and notify customers of delinquent accounts by mail, telephone, or personal visits to solicit payment.

Top Collections Specialist Employers

Collections Specialist Videos

Call Center Training -- Collections Agency

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